Greek Gabriel Panayotides has been removed as CEO of dry bulk carrier Excel Maritime by private equity fund Oaktree Capital under not wholly undramatic circumstances.
BY OLE ANDERSEN
Gabriel Panayotides, former primary shareholder in Danish Torm, has been removed as CEO of Excel Maritime Carriers by the dry bulk carrier's new owner, the private equity funds Oaktree Capital and Angelo Gordon.
Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”