Scorpio Gains Control Over Nordic American Offshore

Blue StormImage Courtesy: Ulstein

Scorpio Group, owned and controlled by the Lolli-Ghetti family, has taken control of Nordic American Offshore (NAO), via a private placement into company’s shares worth USD 5 million.

Emanuel A. Lauro, Chairman and CEO of Scorpio Tankers and Scorpio Bulkers, took over as Chairman and Chief Executive Officer of the Bermuda-based owner and operator of offshore supply vessels.

In addition, Robert Bugbee, President and Director of Scorpio Tankers, has been appointed to the company’s board and to the office of President, Cameron Mackey has been appointed Chief Operating Officer and Filippo Lauro has been appointed Vice President.

As a result, the founder and CEO of NAO, Herbjørn Hansson, resigned from the board of directors and Marianne Lie resigned from the office of Executive Vice-Chair, but will remain a director.

“Though near-term challenges of the offshore market exist, I believe NAO has all the necessary attributes to succeed in the longer-term: high caliber people, high caliber assets, and strong relationships with key stakeholders, first among them its lenders and its shareholders. My focus in the coming weeks will be to ensure that this great enterprise can appropriately position itself for the improving fundamentals to come,” Lauro said commenting on the deal.

Lauro commended Hansson for his close engagement and support during the process, adding that NAO is a platform with a promising future.

 New York-listed NAO owns and operates a fleet of 10 harsh environment offshore supply vessels.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >