World News
Kristian Mørch Named New CEO and President of Odfjell SE
Odfjell SE (Odfjell) Monday announced that Kristian Mørch will become its new President and CEO, succeeding current President and CEO Tore Jakobsen, no later than November 1, 2015.
Mørch is currently co-CEO of the Clipper Group (Clipper), along with fellow co-CEO Gary Vogel, with Vogel set to continue as the sole CEO, Clipper said in a statement.
Mørch was said to have more than 27 years of experience in the shipping industry, 10 years in senior management positions, and has been a member of the board of Odfjell since May 2014.
"We are very pleased to have Kristian Mørch to lead Odfjell SE," said Laurence Odfjell, Chairman of Odfjell SE.
"His extensive industry experience together with excellent personal capabilities and leadership skills makes him the ideal candidate to further develop the company."
Commenting on the appointment, Mørch said: "Odfjell has a strong heritage and the highest level of expertise, giving Odfjell a unique position in a very competitive global market.
"I am looking very much forward to, together with the team, further developing Odfjell's position as a sustainable and profitable company."
Clipper, meanwhile, noted that in recent years it has consolidated its business around Clipper Bulk.
"With Bulk being the core segment and focus of Clipper going forward, and Clipper Bulk being led by Gary, Kristian has found the timing right to pursue new challenges outside the Group," said Frank G. Jensen, Partner and Chairman of the Board of Clipper Group.
"I would like to personally thank Kristian for his great contribution in developing Clipper into the strong and competitive company that we have today."
Clipper said Mørch will stay on for a transition period before moving to Odfjell, but is no longer a partner of Clipper Group.
Earlier this year Clipper Group said it was converting heavy fuel oil (HFO) tanks aboard some of its bulkers into marine gas oil (MG0) tanks to help with Emissions Control Area (ECA) compliance.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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