After three years at the helm of DNVPS, a leading marine fuel management company, Mr Holmvang on Jan 1,
2007, will pass the baton to Tore Morten Wetterhus, currently head of the Components and Systems Department
at the DNV Maritime business area.

Mr. Holmvang joined DNV in 1985 as a marine fuels research scientist and rose through the ranks to become
DNVPS managing director in 2004.

Reflecting on his stint at DNVPS, Mr Holmvang says he is leaving the company with his horizons broadened.

“Despite two decades working in the marine fuel testing business, I’ve never had a boring day; especially during
my three-year tenure as managing director of DNVPS, where we faced an interesting array of challenges and
opportunities coming from the rapid changes in the shipping industry,” Mr Holmvang says. “I’m very happy to
have played a part in shaping bunker management practices.”

Mr Holmvang has been a longstanding member in the CIMAC and ISO working committees dealing with
marine fuel quality specifications as well as procedures for transfer of bunker fuel to ships. He also contributed
to the MARPOL Annex VI guidelines on fuel sampling procedures for accurate verification of sulphur content
in bunkers.

MARPOL Annex VI is an initiative by the International Maritime Organisation to control gaseous emissions
from ships.

Commending Mr Holmvang’s impact on DNVPS, DNV chief operating officer Tor Svensen says the fuel
testing company underwent significant reorganisation to become more efficient and integrated with the other
business units in the DNV enterprise, the outcome of which has been a stronger focus on total service delivery
to clients.

Mr Holmvang was particularly instrumental in introducing fuel management solutions based on a holistic
approach to optimise efficiency and savings; an initiative welcomed by shipping companies challenged by
today’s high fuel costs and increasingly stricter environmental regulations.

“Among his numerous achievements, Per streamlined operations at DNVPS and steered the company towards
record fuel testing volumes. More importantly, he laid the groundwork for the company’s transformation – from
the world’s biggest bunker tester to the most preferred marine fuel management solutions provider – by
introducing an all-capsulating, long-term approach towards the planning and control of bunker consumption,”
Mr Svensen says.

With the new appointment, Mr Holmvang says he looks forward to new challenges in creating business
opportunities for DNV Maritime, adding that he is also confident Tore Morten Wetterhus, the incoming
managing director of DNVPS, has the capability to take the company to the next level of excellence.

Prior to his current position at DNV, Mr Wetterhus held senior appointments at Power-One AS, a Norwegian
power electronics company active in the telecommunications industry. Mr Wetterhus has an MSc in electrical
engineering and will be based in Singapore.