Malta-based bulker owner Sterling Shipping aims to grow and diversify with the appointment of banker James Lightbourn as a new partner.
The former Arctic Securities corporate finance senior vice president also becomes chief financial officer at the kamsarmax bulker company founded by Christopher Fjeld.
Sterling describes itself as “a young, ambitious player in today’s international shipping market”.
New York-based Lightbourn, with his experience leading investments in diverse transportation assets over the past decade, is poised to usher Sterling into an exciting next chapter of growth, the company said.
“James has played an integral role in supporting Sterling from its very first days and I can think of no one better to partner with to take the company to the next level,” chief executive Fjeld said.
Lightbourn has advised on capital raises and strategies as an investment banker at Arctic.
“With a vision of building a modern company in one of the world’s oldest industries, Sterling strives to be at the forefront of the overdue generational change in shipping company boardrooms and in the methods used to transport cargo across the sea,” the company said.
“In his new role, James will focus on bolstering Sterling’s capital base, growing its fleet, and diversifying into additional shipping sectors.”
Before his time at Arctic, Lighbourn was CFO of start-up transatlantic airline Norse Atlantic Airways where he crafted the company’s original business plan, raised capital through the organisation’s listing on the Oslo stock exchange and negotiated the leases for its fleet of 15 Boeing 787 Dreamliners.
He has also worked as investment director for the private investment company BT Larsen & Co-sponsored Norse and served as a board advisor for the group’s publicly listed shipowning company ADS Maritime Holdings and ship manager OSM Maritime Group.
Before that, he was a senior associate at Alterna Capital Partners, where he helped run the fund’s direct lending platform in the shipping sector and supported investments in the fund’s owned vessels.
Exciting new chapter
The new recruit said on LinkedIn: “I am partnering up with Christopher Fjeld to take Sterling Shipping into an exciting next chapter of growth.
“Sterling Shipping is poised to capitalise on a recovering dry bulk market with ambitions to expand our current fleet of four kamsarmaxes.”
Last year, Sterling added the 80,300-dwt Derby (built 2011) from Orion Bulkers and refinanced the rest of its fleet.
