Australian developer of compressed shipping solutions Global Energy Ventures (GEV) has appointed David Palmer as an independent non-executive director and announced the retirement of its chairman and founder, Maurice Brand.
Palmer’s track record in the shipping industry spans more than 40 years, including senior executive and management positions with the Swire Group, Stolt-Neilsen, IMC Pan Asia Alliance and Wah Kwong Maritime Transport. He is currently serving as the CFO and COO of Britoil Offshore Services in Singapore. In 2018, Palmer completed a 12-year career as chief executive officer of Pareto Securities Asia, overseeing offshore and ship-related transactions with a total deal value exceeding $10bn.
He is up for re-election at the upcoming annual general meeting, and subject to his re-election, will continue as a non-executive director to focus on the execution of GEV’s strategy for compressed shipping solutions. “I look forward to helping GEV achieve a “world first” in the commercial shipping of compressed CNG and hydrogen. The technology involved is exciting and I see a defined path to actual operations,” Palmer said.
Maurice Brand will retire on November 25. He was instrumental in the development of a bankable compressed natural gas shipping model and has played a major role in developing the CNG Optimum gas carrier. The company has since utilised GEV’s IP for compressed shipping solutions in the development of the world’s first compressed hydrogen carrier.
Retiring chair, Maurice Brand, commented: “Having been an ASX listed Company Director for over 30 years and with such a talented and competent team of executives and directors in place it is the right time to retire. I will watch with considerable interest the exciting implementation stage that GEV is now embracing and will continue to maintain a shareholding. I am very confident that I will see the construction of the first compressed gas and hydrogen ship in the near term.”
