Danish owner J. Lauritzen has established its gas and dry bulk businesses as independent companies, Lauritzen Kosan and Lauritzen Bulkers.
The company said the change will give flexibility for the two companies to develop their businesses, and each entity has been refinanced with long-term financed. Thomas Wøidemann will lead Lauritzen Kosam and Niels Josefsen will lead Lauritzen Bulkers, in the position of CEO. Each will report to new holding company J. Lauritzen A/S.
The change also sees the departure of group CEO Mads Peter Zacho.
“I am pleased that the plan we have worked on since last year has been successfully implemented. We have refinanced the Group in the middle of the corona crisis, which shows the strength of J. Lauritzen’s relationships to our core banks,“ Zacho said.
Tommy Thomsen, chairman of J. Lauritzen, commented: “As owners of both Lauritzen Kosan and Lauritzen Bulkers we are pleased to see these plans fall into place and we give thanks to Mads Peter Zacho for leading this strategy to completion.
“We now have a clear and durable structure, where each of the two businesses can use their strong market presence to compete efficiently and grow in their respective segments.”
According to the company website, Lauritzen Kosan operated a fleet of 36 gas carriers while Lauritzen Bulkers has a fleet of 34 bulkers.
