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Mr. Ostbye was elected as a director in 2006. Since 1983 Mr. Ostbye has been associated with the Arne Blystad Group of companies: from 2003 to 2007 he was Vice President of Finance of Sokana Chartering, LLC, from 1988 to 2003 he served as Vice President of Finance of Blystad Shipping (USA) Inc. and from 1983 to 1988 he was Financial Manager of Arne Blystad AS. Following the sale of the Blystad tanker operation to Eitzen Chemical USA in 2006, Mr. Ostbye has continued to work for the Blystad Group of companies as a U.S. representative. Mr. Ostbye also serves on the Board of Directors of several privately held companies. He holds a Sivilokonom/MBA from the Norwegian School of Management (BI).
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