Oystein Kalleklev believes he has enough time to run both Flex LNG and Avance Gas, with the help of the teams at both John Fredriksen companies.

The Flex LNG chief executive was brought in on Tuesday as executive chairman of Norwegian VLGC owner Avance following the resignation of Kristian Sorensen and chairman Erik Jacobsen.

Fredriksen lieutenant Jens Martin Jensen has also come in as a director.

Kalleklev told TradeWinds that Avance Gas is not currently planning to recruit a new CEO.

“Kristian has built a good and able organisation, so I am sure we will pull together and continue building the company with the same strategy as under Kristian’s leadership. We really do wish Kristian the best going forward,” he said.

The Flex LNG boss also pointed to the fact that his LNG carrier company has secured eight vessels on three to five-year time charters during 2021. A ninth vessel will probably also be fixed due to an outstanding option.

So the company is today “more or less fully booked for the year,” Kalleklev added.

“Hence, I think it should be feasible for me to free up some time to spend on Avance,” he said.

But the new executive chairman will not be alone in his endeavours.

“Running a shipping company is not about one person; there are a lot of highly qualified people in Avance which I am sure will contribute their best to execute plans into realities,” Kalleklev added.

Pastures new

Sorensen quit to pursue “opportunities outside of the company,” Avance Gas said.

The outgoing CEO told TradeWinds he had nothing further to add on his departure, except to thank his team for “a fun and interesting period with Avance Gas, and I wish the company and its employees all the best for the future”.

Sorensen joined Avance Gas on 1 April 2021, leaving his role as CEO of Norwegian shipbroker Fearnleys.

The top job at Avance Gas has seen a number of changes since 2020.

The shipowner had been without a chief executive since the departure of Peder Simonsen in September 2020.

Sorensen was the third CEO at the company in 10 months following the departures of Simonsen and his predecessor Ulrik Andersen, who left in April 2020.