High Shipping Costs Are Here to Stay Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Singapore-headquartered BW Group announced Monday that CEO Carsten Mortensen has resigned after three years on the job.
The company said Mortensen was resigning for personal reasons. The resignation is effectively immediately.
BW Group Chairman, Andreas Sohmen-Pao, commented: “Carsten and I have had a great partnership working closely together to grow the company, but the non-stop travel and living on two continents eventually reached a natural limit for him. We are very grateful to Carsten for his contributions and wish him all the best for the future.”
BW Group is involved in shipping, floating gas infrastructure and deepwater oil & gas production with a controlled fleet of over 300 ships including affiliates and subsidiaries. The group operates the world’s largest gas shipping fleet (LNG and LPG combined), with a total of 70 large gas vessels, including three FSRUs (floating storage and regasification units). It also operates the world’s second largest floating oil and gas production fleet (FPSOs), with 15 units in US, Brazil, Mexico, West Africa, North Sea, and Australasia.
BW’s fleet also includes crude oil supertankers, refined oil tankers, chemical tankers and dry bulk carriers.
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