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Women dominate IBIA’s 2022 board elections, winning 3 out of 4 posts

23 Feb 2022

Three of the four available positions in the 2022 International Bunker Industry Association (IBIA) board elections have been filled by women, meaning all the women standing for election were successful. 

A total of 10 candidates stood for election, with four vacancies to fill.

The four candidates elected for a three-year term starting April 1, 2022 are:

  • Timothy Cosulich, Fratelli Cosulich, Singapore (re-elected for a second term)
  • Valeria Sessa, Reseaworld, Italy
  • Eugenia Benavides, Terpel, Colombia (re-elected for a second term)
  • Anna Stefanou, PMG Holding, UK

The election results were announced at the IBIA AGM on Monday (21 February). 

Prior to the AGM, the current board of IBIA formally elected the chair, vice-chair and treasurer for the year starting April 1, 2022:

  • Timothy Cosulich, who is currently the vice-chair, will take over as the chair of IBIA.
  • Constantinos Capetanakis of Starbulk, Greece will be the new vice-chair of IBIA.
  • Adrian Tolson, Blue Insight, USA will take on the role of Treasurer.

The rest of the IBIA Board that will be starting at the same date are:

  • Peter Beekhuis, Maersk Oil Trading, Singapore
  • Eugenia Benavides, Terpel, Colombia
  • Rahul Choudhuri of VPS, Singapore
  • Paul Maclons of AMSOL, South Africa
  • Mustafa Muhtaroglu, Energy Petrol, Turkey
  • Jesper Rosenkrans, Total Marine Fuels Pte Ltd, Singapore
  • Valeria Sessa, Reseaworld, Italy
  • J. Stephen Simms, Simms Showers LLP, USA
  • Anna Stefanou, PMG Holding, UK
  • Nicolas Vukelja, Terramar, Panama

The current chair of IBIA, Henrik Zederkof of Bunker Holding, Denmark, and the current treasurer, bunker industry veteran and independent consultant Nigel Draffin. UK, will be stepping down at the end of March 2022, when their elected terms come to an end

Unni Einemo, Director of IBIA, said:

“I was so pleased to see the high number, calibre and variety of candidates in the IBIA board elections both this year and last year; a testament to IBIA’s growing stature and relevance. It is refreshing to see more women join the board, increasing the number from one at present, to three.”

“Henrik has shown such strong drive and commitment to the focus areas he outlined for IBIA when he became chair, and we are lucky to have another driven individual when our current vice-chair, Timothy, steps into the role. Our new vice-chair, Constantinos and our new treasurer, Adrian are both very pro-active and great resources for IBIA. We will miss Henrik and our treasured treasurer Nigel, but we have a great team in place for the year ahead. Besides, you do not have to be a board member to take part in IBIA’s work, so we hope both will remain active members”. 

The board also co-opted the chairs of the Interim IBIA Regional Boards for Africa and Asia, respectively, to the IBIA Global Board: Paul Maclons of AMSOL (South Africa) and Rahul Choudhuri of VPS (Singapore). 

Choudhuri will replace Timothy Cosulich as the chair of the Interim IBIA Regional Board for Asia on April 1, 2022 when Timothy becomes the chair of IBIA globally.

Related: IBIA and BIMCO launch survey to identify need for bunker licencing at major ports
Related: IBIA board elections for 2022 now open; 10 candidates competing for four vacancies


Photo credit: International Bunker Industry Association
Published: 23 February, 2022

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