Harren flees OIG seat

Veteran shipowner Peter Harren will shed his top title at OIG Offshore when the company launches its initial public offering (IPO), according to a filing with the Oslo bourse.

Oslo-based OIG says its acting chairman of the board will hand over his seat to former Ocean Rig executive, Geir Aune.

"Geir Aune has long experience from the oil service industry and he has been in charge of several companies and turnaround projects involving public companies, including DSND Subsea [now Subsea 7] and most recently the turnaround of Ocean Rig," OIG said in a statement Wednesday.

Perhaps the most impressive point on Aune's résumé is his five-year stint at Ocean Rig, where he spent time as its finance chief and chairman.

Aune parted ways with the company in 2008 shortly after George Economou's DryShips snapped-up a controlling stake in the Norwegian rig player.

While OIG chief executive Heiko Felderhoff used today's announcement to praise the new chairman, OIG says Harren will keep a seat at the table with the title of vice chairman.

It isn't clear when the reigns will be passed, but it is likely the switch will be sealed within the next four weeks.

As TradeWinds reported last week, the Oslo Axess has set an 8 October deadline for OIG's listing.

Before OIG lands a seat next to the Norwegian-listed elite, it still needs to raise a minimum of $115m in new equity and complete the previously announced acquisitions of offshore affiliates Dockship II and Global Mooring Services (GMS).

OIG began as an alliance between GMS and German shipowner Harren & Partner (H&P).

The IPO had been scheduled for June, but the company missed a deadline imposed by the board of Oslo Axess.

According to OIG's website, it controls a fleet of four offshore construction and support vessels in addition to its mooring and logistics businesses.

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