Leading shipping analyst Peder Nicolai Jarlsby is taking the well-worn path from equity research into shipping company management.
The Fearnley Securities man told TradeWinds that he will soon be leaving the Norwegian investment bank to become chief executive at Glastad family shipping company Mosvolds Rederi in Oslo.
“The official role will be CEO/investment director, but the primary task will be managing equity/credit investments on the shipping side,” Jarlsby said.
Jarlsby was made a partner at Fearnleys Securities in January 2020 and is currently head of shipping equity research at the investment bank.
He joined in January 2016 after a year of shipping equity research at Sparebank 1 Markets.
Jarlsby has a first-class degree in business and finance from Herriot-Watt University in Edinburgh.
He later studied at the London School of Economics (LSE) and received a masters in finance at Warwick University.
Mosvolds Rederi has a number of shipping subsidiaries, including Njord Shipping.
Njord is listed with 20 vessels, including 12 handysizes, six MPPs and a small tanker.
VesselsValue assesses this fleet as worth $358m.
But in recent months, the company has been moving more into shipping decarbonisation and future fuels.
This began with the formation of Amon Maritime, which is looking to manage ammonia-fuelled ships with Bernhard Schulte Shipmanagement.
Amon also has a joint venture called Viridis Bulk Carrriers, which is set to order a fleet of small hydrogen-fuelled bulkers. The company is also an ammonia project.
Then there is Azane Fuel Solutions, which is focusing on bunkering infrastructure for green ammonia in northern Europe.
Second high-profile departure
Fearnleys lost previous head of research Espen Landmark Fjermestad to Oystein Stray Spetalen’s investment company, SD Standard Drilling, last summer. That company has now been renamed SD ETC.
Fjermestad became head of investment at the Oslo-listed operation.
Fearnleys shipping equity department will now be led by Erik Hovi, Oystein Vaagen and Ulrik Mannhart.
In 2020, TradeWinds reported that the Glastad family saw the book equity of its holding company rise substantially after a profitable year.
The diversified organisation, which has roots in the shipping industry dating back to the early part of the 19th century, reported book equity of NOK 2.26bn ($250m) at the end of 2019, up from NOK 1.98bn a year earlier.
Farsund-based Glastad is headed by Endre Glastad, who holds a majority of its shares.