Oslo-listed and Tufton Investment Management-backed Stainless Tankers is reshaping its leadership at both board and executive level as the company prepares for its "next phase." Chairman Ted Kalborg will step down from the board, with the proposal being that current CEO Andrew Hampson takes over the chair, subject to shareholder approval at the upcoming AGM.
In parallel, Hampson will vacate the CEO position, with Nicolas Tirogalas set to step into the role from May 20, 2026. Tirogalas currently serves as president and chief investment officer at Tufton Investment Management, the UK-based fund manager backing Stainless Tankers.
In effect the changes execute a two-layer handover: at board level from Kalborg to Hampson, and at executive level from Hampson to Tirogalas — a move analysts read as bringing Tufton closer to day-to-day operations. Kalborg said it had been "a privilege" to chair the company and expressed confidence in the incoming leadership, while Hampson said he looked forward to continuing with the business in a board capacity.
Stainless Tankers operates a fleet of six stainless steel chemical tankers of around 20,000 dwt each, commercially managed within the Womar pool. The company reported a marginal net loss of $0.06m on revenue of $8m in its latest quarter, against a $1m loss on $7.3m revenue the previous period. From a supply chain perspective the move signals continued consolidation in the niche stainless tanker segment that calls Türkiye's Iskenderun, Aliaga and Ambarli petrochemical/chemical terminals — with pool operators converging closer to specialist fund managers in the Tufton mold.
Key Takeaways:
1. Stainless Tankers chairman Ted Kalborg is stepping down; CEO Andrew Hampson moves to chair pending AGM approval.
2. New CEO Nicolas Tirogalas starts May 20, 2026 — currently chief investment officer at Tufton Investment Management.
3. Company is Oslo-listed and operates a fleet of six 20,000-dwt stainless steel chemical tankers.
4. Vessels are commercially managed in the Womar pool; latest-quarter revenue $8m with a $0.06m net loss.
5. The move brings Tufton closer to day-to-day operations and accelerates specialist-fund consolidation in the small-to-mid stainless tanker segment.
