Lois Zabrocky and John Hadjipateras rolled out welcome mats for two of the world’s most influential shipowners for different reasons in New York on Wednesday.
International Seaways chief Zabrocky’s embrace was for John Fredriksen after welcoming a representative of the shipowner onto the board of the company.
For Dorian LPG chief executive Hadjipateras, the greeting was for Andreas Sohmen-Pao, who is about to list BW LPG on the New York Stock Exchange alongside its rival half a decade after a public and hostile takeover attempt.
As TradeWinds reported earlier today, Fredriksen is getting a seat on the International Seaways board, with Kristian Johansen set to represent the Norwegian-born tycoon as a director of a company where he is the largest shareholder.
Speaking at the TradeWinds Shipowners Forum in New York, Zabrocky was asked about her feelings on the appointment.
“We have accepted to put our largest shareholder’s independent candidate onto our slate for our AGM,” she said, referring to the annual general meeting.
“I think it’s good for all shareholders. I think that trying to work collaboratively to enhance all shareholders is a better outcome.”
TradeWinds deputy editor Eric Priante Martin, who was moderating the discussion, asked directly whether she felt it was better to have Fredriksen on the team.
“Nobody is perfect, and you want to keep building the company and that should be good for everybody,” she said.
At that point, fellow panellist Robert Bugbee, the president of Scorpio Tankers, interjected. “Hold on, John Fredriksen is perfect,” he said. “I’m just diverting his attention so he is looking your way and not my way.”
Hadjipateras was soon in the spotlight, questioned about the imminent arrival of BW LPG in New York, with a planned listing to add to its Oslo traded stock.
“I think more people will know about the industry and our business,” Hadjipateras said after being asked if BW LPG was a welcome peer on Wall Street.
“I’m happy. I’m very happy. I’m also happy we did not do a deal with him a few years ago,” he continued.
“I think history has shown we were right as the thesis that was put forward then that our shareholders would have been better off, I think, that has been disproven.”
BW LPG made a bid for Dorian back in 2018 in what turned into a very public pursuit before Sohmen-Pao abandoned the chase.
BW LPG has filed papers to list on the New York Stock Exchange just a week after fellow BW-backed company Hafnia rang the opening bell to start its stock trading in the Big Apple.
It was not just the big names from today which were referenced during the event.
Sam Norton, chief executive of Overseas Shipholding Group, also drew inspiration from major owner Sammy Ofer when addressing how to handle the present challenges, amplified by rising geopolitical tensions.
“I used to work for a guy called Sammy Ofer,” Norton recalled. “And Sammy used to say, ‘Sometimes it’s good to be lucky, and sometimes it’s good to be smart. But it’s always good to be both’.”
