He replaces Leigh Jaros, who will revert to theposition of business controller and finance manager of the company, havingserved as CFO since July 2011.

Magnussenjoins the shipowner from DNB Markets where he served as director of the investmentbanking division since 2007.

Forfive years prior to that he worked as vice president of corporate banking at DNBBank in New York, Singapore and Oslo.

“Weare