The former high-profile Norwegian shipbroker Ole Jakob Libaek, who helped pioneer ship types such as aframaxes and OBOs, has died at the age of 83.
He suffered a heart attack during a visit to his mountain cabin.
Libaek started his career at shipbroker Conrad Boe, followed by stints at broking houses Davies & Newman and Seabrokers. Starting in 1966, he worked at shipowner Stolt-Nielsen, where he eventually became responsible for broking activities.
Together with some key colleagues, he established a new broking firm, OJ Libaek & Partners, in Oslo in 1976.
It quickly became a competitor to the established brokers in the city, RS Platou and Fearnleys, and secured important customers in Norway and abroad.
Within a few years, Libaek had built up a solid portfolio of shipowner and shipyard contacts and made an especially strong role in securing substantial numbers of orders with South Korean yards.
Libaek became famous for broking large newbuilding deals in Korea for owners in the Soviet Union.
The firm arranged a series of newbuilding contracts for the Norwegian Singapore-based owner Jan Petter Roed and his company Norse Shipping.
Libaek was particularly preoccupied with the technical developments in shipping and invested large sums of money in new combined carrier concepts.
New ship types
His name is connected to ship types such as the aframax, superflex and ore-bulk-oilers (OBOs).
He was known for having an impressive network among owners, charterers and the large shipyards.
In 2005, Libaek retired from OJ Libaek & Partners, but continued for some years in his private company Libaek & Associates.
He served two terms as president of the Norwegian Ice Hockey Association.
For 13 years until 2012 he was married to the Norwegian cross-country skiing star Anette Boe. The couple had three children together.
This article has been amended since publication to reflect that Libaek started his career at Conrad Boe.
