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Fri 23 Mar 2012, 13:23 GMT

Chemoil CFO/COO resigns


Mats Berglund quits Chemoil to join Hong Kong shipping firm.

Leading bunker supply and oil storage firm Chemoil Energy has revealed that Mats Henrik Berglund [pictured] has resigned from his post as Chief Financial Officer (CFO) and Chief Operating Officer (COO).

In a filing to the Singapore Exchange on Thursday, the company said Berglund will be taking up a "new appointment as chief executive officer of Pacific Basin Shipping Limited in Hong Kong."

Berglund was one of Chemoil's key management additions following the appointment of Tom Reilly as Chemoil’s CEO in January 2011.

He joined Chemoil on March 3rd 2011 as part of the company's strategy to bring in experienced professionals to help lead Chemoil towards sustainable growth.

Prior to his appointment, Berglund was Senior Vice President at OSG, an international shipping company listed on the New York Stock Exchange (NYSE), with responsibility for its extensive cargo fleet, and has also held the position of President of Stena Rederi AB. At Concordia Maritime AB, Berglund was Vice President and CFO of the listed tanker company, and he also structured and led Arlington Tankers’ IPO on the NYSE.

Commenting on his appointment last year, Reilly said, "Mats has both extensive financial and business experience which are key to Chemoil’s restructuring for strategic growth in 2011. We had worked together when Mats was President of StenTex LLC – a joint venture between Stena and Texaco – and I know his results-oriented industry will be a great asset to Chemoil."

Pacific Basin Shipping Limited is one of the world's leading owners and operators of modern handysize and handymax dry bulk vessels. The company is listed and headquartered in Hong Kong, and operates in three main maritime segments under the banners of Pacific Basin Dry Bulk, PB Energy & Infrastructure Services, and PB RoRo.

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