John Hadjipateras will be the toast of the US East Coast shipping community later this spring when he is given the iconic bicorne hat to become this year’s Connecticut Maritime Association (CMA) commodore.
Hadjipateras, who is chairman, president and chief executive of Dorian LPG, will be cheered and teased in equal measure when he is honoured at the association’s dinner in Stamford, Connecticut, on 4 April. Last year, Wah Kwong boss Sabrina Chao scooped the honour.
Being made a CMA commodore has become a career highlight, with many of the industry’s leading figures — from the US and beyond — receiving the honour since Ole Skaarup was the first in 1990.
Hadjipateras has shown commitment since he started in the industry in the early 1970s, and he has long supported the CMA.
The prize is awarded to someone who, as the CMA puts it, “has contributed to the growth and development of the industry”.
But in the spirit of the roasting that winners are traditionally given at the dinner — as colleagues and rivals line up to make jokes at the new commodore’s expense — Tradewinds wants to get in early with its own.
That’s because the announcement of Hadipateras’ win prompted a rash of office jokes about his services to short sellers of Dorian shares in the aftermath of the rejection of BW LPG’s dogged takeover offer last year.
Dorian’s shares are down more than 30% from the high hit when BW’s offer was launched in the summer.
Hadjipateras fought a valiant battle over many months to remain independent — flying in the face of not only received wisdom about the need for consolidation but also some of his own shareholders, including Charles Fabrikant.
But we should be the last ones to mock. When TradeWinds reported the award a few days ago, we stupidly placed it in our website’s ‘Casualties’ category. That, we are assured, will also make us the butt of jokes when Hadjipateras is crowned at the commodore’s dinner. But at least he’ll get to keep the hat.
