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Zacho tackles tough second year with J. Lauritzen

One year ago, Mads Zacho traded in his job as CFO of Torm to become chief executive officer of J. Lauritzen. Now, he is looking toward the future in a dry bulk market that is still a far cry from daily rates at the break-even level.

CEO has leaned down J. Lauritzen for tough years

CEO Mads P. Zacho has reduced expenses at J. Lauritzen in order to prepare the carrier for a protracted downturn on the dry bulk market. There is no need for more major cost cutting, he tells ShippingWatch.

Lauritzen CEO is hunting for new dry cargo execs

The carrier is hunting for a replacement for the two dry cargo executives who recently left Lauritzen Bulkers. "The process is important, so whether it takes one or three months to find the right person is a secondary factor," says CEO Mads P. Zacho to ShippingWatch.

J. Lauritzen: Dry bulk challenging despite improvements

J. Lauritzen delivered an improved operating result in the first quarter, though the carrier still suffered a deficit. "Despite market improvements in Q1, dry cargo markets continue to be challenging," says CEO Mads P. Zacho. The carrier maintains its expectations for the full year 2017.

Bondholders want to block J. Lauritzen's bank package

A large group of displeased bondholders plan to vote no to the proposal to postpone debt for NOK 500 million as requested by J. Lauritzen on Friday last week, capital manager Alfred Berg tells ShippingWatch. The carrier's new bank package hinges on the bondholders' acceptance.

Bondholders could knock down J. Lauritzen's bank deal

Two thirds of the bondholders need to vote in favor of repayment of their loans being postponed, otherwise J. Lauritzen's entire, new refinancing package, including backing from the banks and owner Lauritzen Fonden, will collapse. ShippingWatch has interviewed CEO Mads Zacho about the prospects.

J. Lauritzen suffers new full-year deficit in 2016

Hard-pressed dry bulk carrier J. Lauritzen was hit with yet another deficit in 2016, a result management deems unsatisfactory. However, the carrier's CEO Mads Zacho has been able to settle the main terms of the refinancing deal with banks that was crucial for the company's future.

J. Lauritzen loses bunker deal with Hafnia

Although both parties were seemingly pleased with the results, J. Lauritzen's arrangement to handle Hafnia Management's bunker acquisitions has been canceled, effective April 1. The deal has secured Lauritzen one dollar per purchased ton of bunker oil.

This is how Mads Zacho will head J. Lauritzen

J. Lauritzen's new CEO has presented himself as a leader to his employees, and he has in every way possible challenged the traditional idea of how a man in finance would lead a company.

J. Lauritzen CEO could face additional capital needs

J. Lauritzen, which is set to publish its second quarter interim report on August 19th, could need another USD 100 million in new capital injections from owner Lauritzen Fonden by as early as next year, analysts project. The pressure on new CEO Mads Peter Zacho looks set to grow further.

J. Lauritzens topchef kan blive mødt med nyt kapitalkrav

J. Lauritzen, der fremlægger halvårsregnskab den 19. august, kan få behov for yderligere kapital på omkring 100 mio. dollars fra sin ejer Lauritzen Fonden allerede næste år, lyder det i en analyse. Presset på rederiets kommende CEO Mads Peter Zacho ser ud til kun at øges.

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