German owner and manager NSB has added some heavyweight executive experience by appointing banker Piyush Sharma to its top team.
The Buxtehude-based company said the 25-year shipping veteran will join as group director for corporate strategy.
Sharma has been brought in from Singapore's Transport Capital, where he was senior director for Europe.
“With this step, the group is expanding its footprint, especially in the financial sector, and thus continues to consistently pursue the set course,” NSB said.
Sharma started out as a marine engineer and worked as a ship manager and consultant.
But he spent a large part of his career on the financing side of ships and is therefore at home on two essential fronts, the technical and the capital, the shipowner explained.
NSB’s chief executive Tim Ponath said the newly created position will boost the dynamism of the group.
“In addition to the maritime cluster…we are also active in areas outside shipping with our investment arm zero 2 one invest,” he added.
“With Piyush, we have been able to gain enormous experience and competence as well as a great personality for our team and our plans,” the CEO said.
Hamburg-based, Sharma will also become managing director of zero 2 one invest.
This company, founded in 2022, aims to establish and expanding partnerships outside shipping.
NSB manages a fleet of about 60 ships.
Further expansion on the cards
Sharma said: “The group of companies around NSB has been able to position itself well in view of the challenges of the market environment. I look forward to contributing to its further expansion and development in its many future-oriented activities.”
Sharma worked on crude and product tankers, as well as bulkers, for nearly nine years before going ashore.
Prior to joining Transport Capital in 2020, the executive spent four years as senior vice president of equity and projects at German owner Hammonia Reederei.
He also spent eight years as senior vice president with state-backed lender HSH Nordbank, since privatised, where his focus was on the origination and the restructuring of debt, with direct responsibility for a portfolio of above $1bn.
Last year, NSB promoted Paneer Selvam to chief operating officer. The experienced former Pacific International Lines (PIL) executive joined NSB in 2020 to run its Singapore office.
The move was another structural change for the evolving group.
In January 2022, founder Helmut Ponath, Tim’s father, bought out the other shipowning shareholders to take 100% ownership.
Ponath ran the company until a generational change saw his son take over as chief executive in 2020.
Since 2000, there had been four shareholders: Ponath’s Buxriver, Conti NSB Holding, Gebab Holding and Norddeutsche Reederei Holding.
