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Exmar Announces Leadership Change

December 19, 2023

Carl-Antoine Saverys will take over as CEO of Exmar from January 1, 2024 (Photo: Exmar)

Carl-Antoine Saverys has been named CEO of listed Belgian shipowner Exmar, the company announced Tuesday. Effective January 1, 2024, he will take over from Francis Mottrie who will stay on board as COO.

After assuming various roles in the shipping industry, Carl-Antoine Saverys has held deputy roles within Exmar over the past six years, including the company’s infrastructure department and thereafter at the shipping department.

Joining him at the executive top level are newly appointed CFO, Hadrien Bown, and executive director infrastructure, Jonathan Raes, member of the executive committee since 2018.

Francis Mottrie will assume a supporting role as COO from January 1, alongside Jens Ismar, director shipping. Both remain on board of Exmar's executive committee to support the transition.

Executive chairman Nicolas Saverys said, "Francis led a full transition of the company since 2020 and managed Exmar towards great achievements, putting the company in an excellent position to tackle future opportunities with a strong balance sheet. I would like to express my thanks to Francis for his consistent guidance and leadership.”

“As executive chairman I give my full support to my son Carl-Antoine and the team (Francis, Jens, Jonathan and Hadrien). Together they make an energetic executive team and we have full confidence in their ability to build and grow the company further. It's an exciting time for Exmar."

Francis Mottrie said the timing of the transition is excellent. "It has been one of my core objectives to create an organization that values the development of talent. It's an exciting change and I am very proud to hand over the wheel to Carl-Antoine. It's a positive move for all stakeholders, our employees especially, and they have my full cooperation."

Carl-Antoine Saverys said, “With the upcoming global challenges, Exmar is perfectly positioned to play a major role in the further optimization of the energy value chain. The team will continue to grow Exmar as a key player in the transportation and transformation of gasses through state-of-the-art assets.”

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Exmar returns to offshore drilling with Vantage stake

Belgium’s Exmar has made its return to the offshore drilling sector with a stake in the Houston-headquartered rig owner and operator Vantage Drilling.

The Nicolas Saverys-controlled gas shipowner and infrastructure provider has revealed an 11.5% ownership interest in the OTC-listed business, marking its re-entry into the sector after more than two decades.

Established in 2007, Vantage owns a fleet of two jackups and two drillships, while another pair of floaters is operated on behalf of Seadrill.

As of end-September, the company had around $77.6m in cash. The Ihab Toma-led Vantage reported near-breakeven third-quarter net income attributable to controlling interest, against a net loss of $20.2m same time last year on the back of reduced debt, increased fleet utilisation, and higher dayrates.

Exmar’s offshore unit emerged in the early nineties as the owner and operator of drilling fleet as well as building its first semisub. The company today holds rights to several rig designs and has executed a number of rig update projects in recent years.

“This strategic investment is driven by promising value due to continued underinvestment in the offshore drilling market,” Exmar said in its third-quarter earnings report.

Drillship rates are seen pushing $500,000 per day, while high-spec jack-ups have exceeded $150,000 per day, both doubling since the start of 2021. Global utilisation is currently sitting at 92% and around 95% for premium assets, as contract lead times are also starting to stretch when rig availability becomes sparse.

Source: CSN

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• December 19, 2023
• News , Shipping

New generation takes the reins at Exmar

New Exmar CEO: Carl-Antoine Saverys

One shipping dynasty that’s been much in the news this year, notably in the long-drawn battle for control of Euronav , has been Belgium’s Saverys family. Dynasties, of course, involve successions and the New Year will see a change in leadership at Antwerp-headquartered Exmar, where Carl-Antoine Saverys will become CEO on January 1, taking over from Francis Mottrie who will stay on board as COO.

Exmar, which is 81% owned by the Saverys family’s holding company SAVEREX, has a fleet of more than 40 gas carriers and floating gas terminals and is the world’s largest independent transporter of ammonia.

Carl-Antoine Saverys, who is the son of Exmar executive chairman Nicolas Saverys, comes to the CEO role after serving in key deputy roles in Exmar’s infrastructure department and subsequently its shipping department.

Joining him at the executive top level are newly appointed CFO, Hadrien Bown, and executive director infrastructure Jonathan Raes, who has been a member of the executive committee since 2018. Also remaining on the executive board will be Francis Mottrie, in his new role as COO and Jens Ismar, director shipping.

Exmar executive chairman Nicolas Saverys commented: “Francis led a full transition of the company since 2020 and managed Exmar towards great achievements, putting the company in an excellent position to tackle future opportunities with a strong balance sheet. I would like to express my thanks to Francis for his consistent guidance and leadership.

“As executive chairman I give my full support to my son Carl-Antoine and the team (Francis, Jens, Jonathan and Hadrien). Together they make an energetic executive team and we have full confidence in their ability to build and grow the company further. It’s an exciting time for Exmar.”

“It has been one of my core objectives to create an organization that values the development of talent,” said Francis Mottrie. “It’s an exciting change and I am very proud to hand over the wheel to Carl-Antoine. It’s a positive move for all stakeholders, our employees especially, and they have my full cooperation.”

Carl-Antoine Saverys stated: “With the upcoming global challenges, Exmar is perfectly positioned to play a major role in the further optimization of the energy value chain. The team will continue to grow Exmar as a key player in the transportation and transformation of gasses through state-of-the-art assets.”

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56 Saverys family, CMB and Exmar

Significant investment from the saverys family represents a huge bet that in the future hydrogen-powered engines will displace traditional fuels altogether.

• 13 Dec 2019
• Lloyd’s List

The scale of the family tree involved in shipping secures them a place on the list of influencers, but the innovation in their DNA sets them apart from other family operations

CONSOLIDATING the sprawling influence of the Saverys family tree into a single entry for the Top 100 is never going to do justice to the myriad characters and activities that should be represented here.

The sheer scale of operations, from CMB (Compagnie Maritime Belge) led by Alexander Saverys to Nicolas Saverys-led gas carrier company Exmar, are sufficient to secure a seat at the Top 100 table, but influence is about more than business as usual.

Happily, the Saverys family members have innovation in their DNA and yet again there are ample advances this year to secure their collective position in this list.

The race to decarbonise shipping has ironically generated a lot of hot air in certain corners of the industry and, while good intentions are ever present in the marketing, tangible projects and progress are somewhat rarer.

At both CMB and Exmar, the push towards zero carbon is already well advanced, with hard cash being ploughed into hydrogen technology and both companies actively playing their parts in various coalitions and projects on the pathway to zero emissions.

Alexander Saverys has been advocating hydrogen research and development for several years now , but this year revealed the full extent of CMB’s expansive investment in hydrogen technology.

It has seen the Belgium-based shipowner lead the design and development of hydrogen-fuelled engines, as well as construct the first ships using the lower- or zero-emission technology.

Over at Exmar, they are equally passionate about hydrogen, teaming up with a local coalition of ports and energy companies to study the transport of hydrogen as a sustainable fuel.

Nicolas Saverys has long talked about taking leadership through innovation  and Exmar has now transformed itself from a shipping company into an energy supply chain provider.

The metamorphosis from being a transporter into being a transformer of energy may not have been the easy path, but where others talk about adding value into the supply chain, he is taking solid steps.

And, as we have mentioned in previous entries, this about good business, not greenwashing.

“We genuinely believe CMB Technologies can be our profit-driver in the years to come, and every R&D investment is aimed at contributing to our bottom line,” he told Lloyd’s List. “We are doing this to one day make money.”

Mr Saverys sees achieving the IMO’s respective 2030 and 2050 emission reduction deadlines as a “huge opportunity for shipping, not a threat”.

The hydrogen projects they are currently pursuing may still be several years off producing a viable output for international trades, but their investment in tomorrow’s technology today could ultimately see them move up this list of influencers over the coming years. 

The Saverys family also appeared in the Top 100 in  2011 ,  2012 ,  2013 ,  2014 ,  2015 ,  2016 , 2017 and 2018 .

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Nicolas Saverys aims to take Exmar private with takeover bid

Exmar’s board of directors have unanimously voted to support the bid for full control of the company

Belgian gas shipowner Exmar has confirmed it is the target of a public takeover bid by Nicolas Saverys’ investment company Saverex.

The Saverys family currently own 49% of Exmar and have offered €12.10 (US$13.18) per share for the remaining 51% of the company.

The offer represents a 24.74% premium on Exmar’s stock price as of closing on 31 March 2023 and between 33-46% premium above the volume weighted averages of the last one, three, six and 12 months.

The offer makes the deal worth just shy of US$400M, with Euronav reporting 30,319,382 shares outstanding.

Although the board has recommended shareholders accept the bid, it comes with conditions, according to Exmar. It must be accepted by 95% of shareholders. If the bid fails to meet the threshold, Exmar has said it "understands" that Saverex could launch a simplified squeeze out bid under the right conditions.

"Exmar understands that, if following the bid, Saverex and persons acting in concert with it hold at least 95% of the shares in Exmar and have acquired, as a result of the acceptance of the Bid, at least 90% of the shares that are subject to the bid, Saverex intends to launch a simplified squeeze-out bid," the company said.

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• Nicolas Saverys

Chairman at EXMAR NV

Net worth: 364 M $ as of 2024-02-28

Nicolas Saverys is a businessperson who has been at the head of 10 different companies and currently occupies the position of Executive Chairman at EXMAR NV, Chairman at Luxembourg Shipowners' Association, Co-Managing Director at EXMAR LPG BV, Managing Director & Director at Internationaal Maritiem Agentschap NV, Chairman of Bureau Veritas SA (Belgium) and Managing Director & Director at Saverex NV. He is also on the board of 5 other companies. In his past career Nicolas Saverys occupied the position of Chairman at EXMAR Marine NV, Chairman of Exmar Energy Partners LP, Chairman at Royal Belgian Shipowners Association and Chairman for Flemish Ports Association. Mr. Saverys received an undergraduate degree from Ghent University.

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Nicolas saverys active positions, former positions of nicolas saverys, training of nicolas saverys, experiences positions held.

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• Photo credit: Exmar NV
• LNG & LPG news , Offshore news , Shipping Finance news , Shipping news

Nicolas Saverys fresh bid to takeover Exmar NV launches today

• by Shipping Telegraph

Nicolas Saverys decided to voluntarily reopen the bid to takeover Exmar.

The second acceptance period of the public takeover bid on Exmar NV launches today until Friday 15 September 2023.

Saverex NV, the holding company of the family of Nicolas Saverys, which is active in the international shipping industry, currently holds a total of 44,234,979 shares in Exmar, representing 74.35% of the outstanding shares in the company.

The main activity and the main asset of Saverex is its shareholding in Exmar, a Euronext Brussels-listed company operating worldwide primarily involved in LNG, Offshore and LPG supply chain solutions.

Taking into account the shares in Exmar held by Nicolas Saverys (7,924 shares) and by Exmar (2,026,013 shares), Saverex NV and its affiliates together hold 46,268,916 shares, representing 77.76% of the outstanding shares in Exmar.

The shareholders who have not yet accepted the bid will be able to accept the bid during this second acceptance period. The payment of the bid price for the shares offered during the second acceptance period is scheduled for Monday 2 October 2023.

Saverys initially offered amounts to €12.10 per share, minus the dividend of €1.00 per share which has been paid on 24 May 2023, resulting in a price of €11.10 per share.

Saverex NV said it believes “that this bid price adequately reflects the fair value of the Exmar, as confirmed in the prospectus and by selling shareholders in the first acceptance period,” and therefore it has decided not to increase the bid price.

Since the announcement of the results of the initial acceptance period, the Exmar share has traded slightly above the bid price, and Saverex said it believes that “this increase of the share price may be caused by market speculation regarding a potential increase of the bid price.”

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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Strange Glow Over Moscow Skies Triggers Panic as Explosions Reported

B right flashes lit up the night sky in southern Moscow in the early hours of Thursday morning, new footage appears to show, following reports of an explosion at an electrical substation on the outskirts of the city.

Video snippets circulating on Russian-language Telegram channels show a series of flashes on the horizon of a cloudy night sky, momentarily turning the sky a number of different colors. In a clip shared by Russian outlet MSK1.ru, smoke can be seen rising from a building during the flashes lighting up the scene.

Newsweek was unable to independently verify the details of the video clips, including when and where it was filmed. The Russian Ministry of Emergency situations has been contacted via email.

Several Russian Telegram accounts said early on Thursday that residents of southern Moscow reported an explosion and a fire breaking out at an electrical substation in the Leninsky district, southeast of central Moscow.

Local authorities in the Leninsky district told Russian outlet RBC that the explosion had happened in the village of Molokovo. "All vital facilities are operating as normal," Leninsky district officials told the outlet.

The incident at the substation in Molokovo took place just before 2 a.m. local time, MSK1.ru reported.

Messages published by the ASTRA Telegram account, run by independent Russian journalists, appear to show residents close to the substation panicking as they question the bright flashes in the sky. One local resident describes seeing the bright light before losing access to electricity, with another calling the incident a "nightmare."

More than 10 villages and towns in the southeast of Moscow lost access to electricity, the ASTRA Telegram account also reported. The town of Lytkarino to the southeast of Moscow, lost electricity, wrote the eastern European-based independent outlet, Meduza.

Outages were reported in the southern Domodedovo area of the city, according to another Russian outlet, as well as power failures in western Moscow. Electricity was then restored to the areas, the Strana.ua outlet reported.

The cause of the reported explosion is not known. A Telegram account aggregating news for the Lytkarino area described the incident as "an ordinary accident at a substation."

The MSK1.ru outlet quoted a local resident who speculated that a drone may have been responsible for the explosion, but no other Russian source reported this as a possible cause.

Ukraine has repeatedly targeted Moscow with long-range aerial drones in recent months, including a dramatic wave of strikes in late May.

On Sunday, Moscow Mayor Sergei Sobyanin said the region's air defense systems had intercepted an aerial drone over the city of Elektrostal, to the east of Moscow. No damage or casualties were reported, he said.

The previous day, Russian air defenses detected and shot down another drone flying over the Bogorodsky district, northeast of central Moscow, Sobyanin said.

There is currently no evidence that an aerial drone was responsible for the reported overnight explosion at the electrical substation in southern Moscow.

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Nicholas Galitzine Says His ‘Idea of You’ Boy Band Star Is ‘Very Different’ Than Harry Styles: ‘We Want Him to Exist in His Own World’

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Nicholas Galitzine recently addressed the comparisons between Harry Styles and Galitzine’s character in “ The Idea of You ,” where he plays the 24-year-old lead singer of a popular boy band who falls in love with Anne Hathaway’s character — a 40-year-old single mom.

“It’s funny because it’s not a comparison that I’ve ever made,” Galitzine told Variety’s Marc Malkin at the Vanity Fair Oscars Party. “But people really like to make it. Hayes Campbell, the man I’m playing, is a very different character and we want him to exist in his own world.”

“The Idea of You,” based on Robinne Lee’s novel of the same name, chronicles the relationship between Solène (Hathaway) and Hayes (Galitzine). The two meet at Coachella when Solène takes her daughter to see Hayes’ band, August Moon. This sparks an unexpected romance between them, forcing Solène to balance her career, her obligations to her teenage daughter and the 24-hour news cycle surrounding her relationship.

While Galitzine’s character was rumored to be inspired by Styles, Lee told Vogue in 2020 that “inspired is a strong word.” She explained that “the seed was planted” for the novel while researching One Direction in 2017 and finding out that Styles often dated older women. However, Lee also named Prince Harry, her ex-boyfriends, her husband and Eddie Redmayne as inspiration for Hayes. Despite these other inspirations, the comparisons to Styles persisted, likely due to scenes she had written eerily playing out in Styles’ life. For example, Lee wrote a scene where the paparazzi catch Solène and Hayes in a compromising position on a yacht — and later, similar photos of Styles and Kendall Jenner were released.

“The Idea of You” will stream globally on Prime Video starting May 2.

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