New York-listed international bunkering firm Aegean Marine Petroleum Network (Aegean) Wednesday terminated its consulting agreement with Dimitris Melisanidis (through Leskira Holdings Co. Limited), Aegean’s founder and former Head of Corporate Development.
The company also appointed Tyler Baron of RBM Holdings LLC (“RBM”), Raymond Bartoszek, and Donald Moore to its Board of Directors, effective immediately.
The new independent directors will serve alongside Yiannis N. Papanicolaou, Spyridon Fokas, George J. Konomos and Konstantinos Koutsomitopoulos on Aegean’s Board of Directors, bringing the number of independent directors to six.
As part of the development, RBM has agreed to voluntarily dismiss the shareholder litigation that it initiated against Aegean in the Southern District of New York, and further, the RBM Parties have agreed to release Aegean from any and all claims relating to such litigation.
“We are pleased to welcome the new directors joining the Company’s Board and the resolution of the litigation,” said Konstantinos Koutsomitopoulos, Aegean’s Chairman of the Nominating and Governance Committee.
“We and RBM believe that Aegean’s unique assets and strategic network are a strong foundation for future success.”
Tyler Baron and Justin Moore, speaking on behalf of RBM and The Committee for Aegean Accountability, said, “We are pleased to be part of a significant evolution of the board.”
“The new board members look forward to working with their colleagues and management on delivering a strategic operating plan that focuses on value creation and brings Aegean into its next phase of growth and profitability.”
Related: Aegean requests for ‘additional time’ to file annual report
Related: Aegean welcomes new Chief Financial Officer
Related: Lawsuit filed against Aegean’s H.E.C. acquisition
Related: Aegean to offer ‘one-stop-shop solution’ with H.E.C. acquisition
Related: Aegean in $367 million acquisition of port reception facilities services group
Related: Aegean shareholders ‘gravely concerned’ over board’s silence
Related: Shareholders nominate ‘highly qualified’ candidates to Aegean board
Related: Aegean Marine Petroleum Network under shareholder pressure
Photo credit: Aegean Marine Petroleum Network
Published: 3 May, 2018
Current figures show that of 294 vessels inspected some 27 were found in possible breach of the limits of sulphur content in their fuel.
Project targeting to conduct an actual ship-to-ship refuelling operation of green methanol bunker fuel to a vessel in Singapore port during the first half of 2023.
Forum where more than 150 guests were invited was held at the Zhoushan International Conference Center on Wednesday (10 November).
With effect from 9 December, Inter-Pacific will cease to operate as a bunker supplier in the Port of Singapore.
Nauticor’s Kairos successfully supplied next generation offshore installation vessel Orion, the fifth dual fuel vessel in DEME’s fleet, with LNG.
Duo plans to use Nutrien’s existing low-carbon ammonia supply from Geismar, LA as a bunker fuel and deploy an ammonia-fueled vessel as early as 2025.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
Bernard Chew was a former shareholder of MB Marine and was an authorised signatory of the company’s cheques at the material time, according to court documents obtained by Manifold Times.
Maersk, CMA CGM, BP and Stena Bulk give insights on availability of the three potential bunker fuel types, their plans, transition from fuel oil and LNG to alt fuels, how important sustainable marine fuels are to shipowners and more.
