Nicholas Georgiou Promoted to Lomar Chief Executive Officer

Nicholas Georgiou, who becomes CEO with immediate effect, says: "For the past decade I had the great pleasure of working alongside a first class business leader and am now honoured to follow in Achim's inspiring footsteps. Together with our CFO, Manos Kouligkas, we have streamlined our fleet to focus predominantly on container shipping and are currently seeing a very positive upswing in container charter markets following many difficult years. With a modern, eco-efficient fleet of vessels, Lomar is well positioned to benefit in the decade ahead and together with our talented management team, we look forward to reinforcing our position as a leading ship owning and management business."

Nicholas Georgiou, who becomes CEO with immediate effect, says: "For the past decade I had the great pleasure of working alongside a first class business leader and am now honoured to follow in Achim's inspiring footsteps. Together with our CFO, Manos Kouligkas, we have streamlined our fleet to focus predominantly on container shipping and are currently seeing a very positive upswing in container charter markets following many difficult years. With a modern, eco-efficient fleet of vessels, Lomar is well positioned to benefit in the decade ahead and together with our talented management team, we look forward to reinforcing our position as a leading ship owning and management business."

Nicholas Georgiou began his career in shipping in 1995 with Golden Union Shipping in Greece, a specialist in dry bulk carriers. He gained a breadth of experience in every aspect of ship ownership and management during his 15 years with the company. Having initially joined the operations department, he led the implementation of the International Safety Management (ISM) Code across the company – driving extensive compliance training among both land-based and shipboard personnel. Nicholas joined Golden Union's chartering division in 2001, where he was engaged in all aspects of chartering including interaction with the company's legal division regarding claims handling.

As COO at Lomar for the past decade, he has been responsible for all of the company's day-to-day commercial, technical and operational activities. Nicholas is a Fellow of the Institute of Chartered Shipbrokers and holds an economics-based degree from UCL in London.

Lomar (www.lomarshipping.com) is a leading ship-owning and management group with a diversified mixed sector fleet of mainly container vessels, plus bulk carriers, and chemical and product tankers. With nearly 45 years of industry expertise as a leading ship owner and operator, Lomar works globally with major first class organisations, from charterers to shipping professionals, regulatory authorities and governments.

Lomar is a subsidiary of the Libra Group, a diverse international business group that is active in 35 countries across six continents. It focuses on six business areas: aviation, energy, hospitality, real estate, shipping and diversified investments.

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