He replaces Leigh Jaros, who will revert to theposition of business controller and finance manager of the company, havingserved as CFO since July 2011.
Magnussenjoins the shipowner from DNB Markets where he served as director of the investmentbanking division since 2007.
Forfive years prior to that he worked as vice president of corporate banking at DNBBank in New York, Singapore and Oslo.
“Weare very happy to have a capacity like Pal onboard to help drive the refinancingof the company’s debt structure and consideration of growth vehicles, such asan MLP and possible US listing,” said AMSC chief executive Dag Fasmer Wittusen.
AMSChas a fleet of ten modern handy size product tankers on long term bareboatcharter with Overseas Shipholding Group (OSG).
OSG, which is still in the midst of a Chapter 11bankruptcy, charters the vessels out on time charters to major oil companies inthe US coastwise Jones Act trade.
