Early 2019 movers

Jan 11 2019

DHT Holdings’ Co-CEOs have relocated to Singapore.

This move follows changes in Norwegian tax law this year for tax residency of companies formed outside of Norway.

The new legislation takes into account the place of daily management, as well as the place of management and control on board level. The company's tax residency will remain unchanged in Bermuda.

The Singapore office will house senior management, chartering, operations, newbuilding supervision and technical management whereas the company's Norwegian office will retain functions within finance, accounting, investor relations, chartering and operations.


*Law firm HFW has boosted its Admiralty & Crisis Management team with the addition of Victor Fenwick.

He joins HFW’s London office from Ince & Co, where he was a partner and deputy head of the firm’s Admiralty Business Group.


*Maritime software specialist GTMaritime has appointed maritime satellite veteran Mike McNally as Sales and Marketing Director.

McNally has more than 25 years’ experience working in the industry both at sea and in senior maritime communications management positions. His appointment reflects GTMaritime’s move to further develop partnerships with its existing customers and resellers, while extending its reach and presence in new territories.


*Moscord, the rapidly growing e-marketplace for maritime supplies, has recruited Michael Klint from Seven Seas Group as its new Director of Operations.

Klint will now take on responsibility for Moscord’s operation centre in Manila.


*Bahrain-based shiprepairer, ASRY has announced that Sahar Ataei has been appointed CFO.

She joins the company after 19 years with Bahrain’s national airline Gulf Air, most recently as CFO.


*The Baltic Exchange has made three new appointments to its Council (BEC), the governing body which oversees the strategy for membership services, social responsibility, charities and its relationship with its members, governments, regulatory bodies and the global shipping community.

Baltic Exchange members Guy Hindley (Howe Robinson), Denis Petropoulos (Braemar Shipping Services) and Andy James (China Navigation) have joined the Council. 

Lambros Varnavides and John Hadjipateras have stepped down from the Council, although John Hadjipateras remains on the Baltic Membership Council.

Meanwhile, figures compiled by the Baltic Exchange revealed that the overall volume of Forward Freight Agreement (FFA) trades increased in 2018.

Freight derivative volumes in the tanker market rose by 20% in 2018 hitting 321,962 lots. One lot is defined as a day's hire of a vessel or 1,000 tonnes of ocean transportation of cargo.

For tankers, dirty trade volumes were up 53% on the previous year reaching 191,224 lots. Much of this growth took place in the final quarter of 2018 when an average of 5,691 lots were traded each week. Clean volumes for the year were down 10% at 130,738 lots.

Open interest for tankers stood at 50,962 lots on 2nd January, 2019.


*ABS has held its official ribbon-cutting ceremony, formally opening its new global headquarters.

The building is located at 1701 City Place Drive, Spring, Texas.


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May 2019

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