of two new board members.

Mr. John Blankley and Mr. Peter Shaerf replace Mr. Walter Wilds and Mr. John Hsieh who are retiring after serving on the board since the inception of the company in 1989, according to Bloomberg business news service.

Mr. Blankley, 47, owns Seafirst Capital, an independent consulting and investing company, and presently serves on the board of Hvide Marine Inc., a US company.

He is a former Chief Financial Officer of Stolt Tankers and Terminals, a Nasdaq-listed company, and Harris Chemical Group.

Since 1980 Mr. Shaerf, 40, has been managing partner of the Commonwealth Group, a containership brokerage company and is a former director of Common Brothers USA Ltd., a ship brokerage concern. He has also served as a ship broker at Eggar Forrester Ltd. in London.

Mr. Shaerf is also vice president and director of the Containerization & Intermodal Institute.

MC Shipping, based in Monaco, owns, operates, and charters second-hand vessels.

Its fleet includes four feeder containerships, six multipurpose vessels, and a bulk carrier.