Fistes quits

Nicholas Fistes leaves the Intertanko chairman's seat with immediate effect.

Nicholas Fistes has quit his role as chairman of Intertanko with immediate effect "due to additional business commitments".

The joint head of Greek shipowner GrandUnion has already been replaced in the hot seat by Teekay Marine Services president Capt Graham Westgarth, the tanker body wrote in a statement on Wednesday.

Fistes' departure comes a months after GrandUnion - which he controls together with Michael Zolotas - closed a deal to take over control of compatriot and US-listed owner Aries Maritime. GrandUnion received nearly 19 million Aries shares in exchange for three capesize bulkers.

Fistes was elected to succeed Stephen Van Dyck as Intertanko chairman in the middle of 2007. He was only re-elected as chairman at the body's general meeting in Tokyo in May this year. At that time Westgarth was elected as vice-president joining Samco managing director Bengt Hermelin and Valles Steamship boss David Koo.

The GrandUnion man earned his BSc in naval architecture and shipbuilding from Newcastle University in the UK and his MSc in Ocean Systems Management from the Massachusetts Institute of Technology (MIT). He spent around 30 years working for the Livanos shipping family in Greece and has spent time with other industry bodies such as the International Tanker Oil Pollution Federation (ITOPF) and Intercargo.

Capt Graham Westgarth takes over from Fistes.

In March 2003, he was appointed chairman of Intertanko's Hellenic Forum, a position he held for three years.

Westgarth, who has over 38 years experience in the shipipng industry, has been a member of Intertanko's council for nine years and a member of the executive committee since 2006.

The Teekay man said of his appointment: "I have immense respect for the commitment and professionalism of the people working in our industry, especially those who man our vessels day after day, often in arduous conditions, providing a service that is nothing less than a global energy lifeline.

On succeeding Fistes he said: "The work that Nick Fistes encouraged continues, and we are all most grateful to him for his dedication and commitment to Intertanko."

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