Oslo-based sale-and-purchase shipbroker Lorentzen & Co recently declared bankruptcy after a century of operation. Richard Fulford-Smith, the head of Affinity, a brokerage firm, has successfully recruited six (6) former employees of Lorentzen & Co, a company that recently declared bankruptcy after a century of operation. Affinity, particularly its bulker-oriented division known as Affinity Dry Bulk, has welcomed these former Lorentzen staff members, who will establish the company’s new New York headquarters. Hans Bredrup, the director of Affinity Dry Bulk, it was announced that the company has appointed Nick Tangney as the managing director, John Geoghegan as the director of business development, and Bob Tangney. Hans Bredrup stated that they will collaborate with a new operations team in Greece, with whom they have already been working, ensuring a seamless transition and continuation of their business. Hans Bredrup also mentioned that the trio (Nick Tangney, ohn Geoghegan, Bob Tangney) would be working closely with Affinity Dry Bulk’s existing operations and research personnel in Greece. Regarding Lorentzen, the firm based in Oslo, they recently rebranded as Lilleaker Shipping Advisors and submitted a tender request following years of significant losses. Oslo-based sale-and-purchase shipbroker Lorentzen & Co’s debt stands at approximately $9.3 million, with a substantial portion owed to the parent company Tidships. 27-June-2023
Oslo-based sale-and-purchase shipbroker Lorentzen & Co cuts shipbroking team after results disappoint. Currently, Christian Andersen-led sale-and-purchase shipbroker Lorentzen & Co has 16 shipbrokers. Lorentzen & Co is decreasing the shipbrokers after showing its BOD (Board of Directors) disappointing 2022 results. Lorentzen & Co is in discussions with shipbrokers to see who will leave the company. Oslo-based sale-and-purchase shipbroker Lorentzen & Co expressed that eight shipbrokers will leave the company. 19-February-2023
Oslo-headquartered shipbroker Lorentzen & Stemoco (L&S) reported a loss due to Singapore restructuring. Christian Andersen-led sale-and-purchase shipbroker Lorentzen & Stemoco (L&S) reported a loss of $1.8 million for the full year of 2018. Despite the loss, Lorentzen & Stemoco (L&S) still has its eyes on expansion in Asia. Lorentzen & Stemoco (L&S) is rebuilding after suffering losses, particularly in the dry bulk business in Singapore in 2018. Lorentzen & Stemoco (L&S) is recruiting in pivotal areas like S&P (Sale and Purchase), projects, and new building departments. Oslo-headquartered shipbroker Lorentzen & Stemoco (L&S) reported a loss that was associated with the restructuring of its Singapore office, where activities have been scaled down. Oslo-headquartered shipbroker Lorentzen & Stemoco (L&S) appointed Keith Denholm to the Singapore office. However, Keith Denholm left Lorentzen & Stemoco (L&S) for personal reasons and joined Heidmar. Christian Andersen-led sale-and-purchase shipbroker Lorentzen & Co has mostly performed spot chartering in Singapore, however, Lorentzen & Co has not been successful. In China, Oslo-headquartered shipbroker Lorentzen & Stemoco (L&S) has built up a team of 11 shipbrokers in the company’s Beijing office. Lorentzen & Stemoco’s (L&S) business in China has been sluggish this year, but the company has high expectations in China. Oslo-headquartered shipbroker Lorentzen is split into Lorentzen Chartering and F H Lorentzen & Sons in 1959. Lorentzen Chartering was managed by Jørgen Lorentzen, Otto Grieg Tidemand and James Stove Lorentzen. Oslo-headquartered shipbroker Lorentzen was merged with Stemoco in the mid-1990s and the name changed to Lorentzen & Stemoco (L&S). In 2013, the Norwegian Tidemand family acquired other shares of the company. Today, the Oslo-headquartered shipbroker Lorentzen is owned by fourth-generation descendants of Mr. Jørgen Lorentzen, represented by Caroline Tidemand and Kristin Tidemand. Lately, new teams of shipbrokers have been recruited, the administration has switched, and Lorentzen is venturing into new business areas. Oslo-headquartered shipbroker Lorentzen & Stemoco (L&S) does not have the initiative of being among the largest broking houses but evolving better in shipbroking. Lorentzen & Stemoco (L&S) quit spot shipbroking in 2017. In 2018, Lorentzen & Stemoco (L&S) quit spot shipbroking completely when veteran Anders Lalim departed for Galbraith’s. Stemoco Shipping was formed in 1985 and merged with Lorentzen Chartering to become Lorentzen & Stemoco in 1994. 18-May-2020
Lorentzen & Stemoco (L&S) employees are trying to force the firm to pay bonuses. Lorentzen & Stemoco (L&S) deny the accusations, while some employees concede that bonus payments not paid for 2015. CEO Caroline Figenschou Tidemand is the daughter of shipowner Otto Gregard Tidemand. Lorentzen & Stemoco (L&S) recently lost 2 more brokers to compatriot Fearnleys. Stemoco Shipping was formed in 1985 and merged with Lorentzen Chartering to become Lorentzen & Stemoco (L&S) in 1994. 21-December-2016