The Danish shipping company Nordic Shipholding will in the future be managed from Singapore, writes the Danish business daily Børsen.
Hedgefond PAG, the company that acquired Nordic Shipholding in January 2014, has hired Transport Capital in Singapore to be in charge of the daily operation of Nordic Shipholding.
Philip Clausius, the Managing Director of Transport Capital, underlines that the shipping company will remain Danish in its core in spite of the new company location.
“All the important decisions will still be made from Copenhagen, and the Board meetings will take place in Denmark. The skills and experience from the Danish shipping industry is essential to the new owners” he says.
Nordic Shipholding is listed on Københavns Fondsbørs and the Board of Directors includes former A.P Møller Mæersk chairmen Knud Pontoppidan and Kristian Mørch. Nordic Shipholding reported a loss of 6,5 million kroner last quarter of 2013.
Source: Børsen, January 15, 2014.