Maersk chief Eivind Kolding named chairman of Danske Bank
MAERSK Line's chief executive officer Eivind Kolding is likely to become chairman of Denmark's largest bank, Danske Bank, since its present chairman Alf Duch-Pedersen announced he would stand down at its next general meeting March 29.
The move coincides with the Danish lender's new share issue worth DKK20 billion (US$3.6 billion) to fund payment of its state loan valued at DKK24 billion.
Maersk owns a 20 per cent stake in Danske Bank, one of the biggest banks in Scandinavia, and will need to fund its share in order to retain a controlling stake, said London's Containerisation International.
The news follows the Danish carrier's record ship orders for the largest class vessel of ten 18,000 TEU valued at US$2 billion, a deal worth $5.7 billion should an option to purchase a further 20 be exercised.
The Triple-E vessels with specifications of 400 metres length, 59 metres wide and 73 metres high will be built by Korea's Daewoo Shipbuilding & Marine Engineering for delivery 2013 to 2015.
Toll Global Forwarding opens new US branches, moves HQ
AUSTRALIA's Toll Global Forwarding, has established new branches in Philadelphia and Atlanta to meet increasing customer demand, bringing the number of offices in the US and Canada to 15.
Max Lanci has been appointed manager of the Atlanta office, while Paul Muncer will be in charge in Philadelphia.
In a separate development, Global Forwarding Americas has moved out of its corporate headquarters in Rosedale, New York to Springfield Gardens, NY, following the recent acquisition of Summit Logistics International and FMI.
The Journal of Commerce also reports that renovations were required to enable the existing premises in Springfield Gardens to accommodate all of the employees from the two locations in a single facility.
UPS appoints William Ng as Hong Kong-Macau chief
UPS has appointed William Ng managing director for Hong Kong and Macau, with overall responsibility for its express delivery and supply chain operations.
Mr Ng, now general manager of UPS Taiwan, will replace KK Leung, who has been made president of UPS's South Asia District, based in Singapore.
Mr Ng joined UPS in Malaysia as operations and industrial engineering manager in 1997 and has led various projects within Asia Pacific.