11. Petros Pappas, Star Bulk

Star Bulk boss has the biggest dry bulk outfit on Wall Street, yet still eyes further expansion, step by step. Comeback stories always impress, either through how far their heroes fall in the first place, or else how steep the ascent is in the present. Petros Pappas’ story belongs to the latter category and is still on the upswing.

12.Roger Janson, Cargill

  

Commodities super trouper holds the spotlight. If cargo is king, Roger Janson is true shipping royalty, now in his fourth year as head of the ocean transportation business for agribusiness giant Cargill.

13.Ma Zehua, Cosco

    

Realism implied by chairman's “winter hug” statement reflects Cosco’s improved but still struggling performance. Nothing signalled this year’s change of stance by China’s biggest state-carrier than one statement made by its boss, Ma Zehua.

14.Khalid Al-Falih, Saudi Aramco

        

Saudi Aramco seizes more control over oil supplies flowing from the Kingdom of Saudi Arabia in 2014. Saudi Aramco’s Khalid Al-Falih retains a high position in shipping’s power elite, due to the progress the company has been making this year to take as much control as possible over the crude oil supply coming out of Saudi Arabia.

15.Angeliki Frangou, Navios Group

          

Deliberate and methodical, the head of the Navios operations has been busy expanding her empire, one way or another. If Angeliki Frangou slips a few places this year, that stems more from the restless churn of a global industry and the volatility of market perception than any shortfall on the part of her Navios Group.

16.George Economou, DryShips

              

Hard-working entrepreneur has been busy battling adverse markets to come up with funding solutions. George Economou stepped up to the plate in November to inject $80m of his own funds into Nasdaq-listed DryShipsas part of a $350m equity fundraiserthat removed any lingering doubts about the dry bulk and tanker company’s ability to refinance its convertible bond, maturing December 1.

17.Xu Lirong, China Shipping Group

                

Chairman has seen mixed results during 2014. Under the second year of Xu Lirong’s chairmanship, China Shipping Group has seen mixed results on several fronts.

18.Fu Chengyu, Sinopec

                    

Chairman ensures Sinopec become a central player in the formation of China’s new VLCC empire. SINOPEC, China’s largest oil producer, is also the world’s biggest charterer -through its Unipec trading unit- of very large crude carriers, increasingly from the China-owned fleet.

19.Li Ruogu, Export-Import Bank of China

                      

Chairman of China’s key “policy” lending institution gets around. Noteworthy among signing ceremonies dominated by the pen of Li Ruogu, chairman of China’s key ‘policy’ lending institution for international purposes, was the inking of a co-operative deal in July to provide ship finance worth $295m to China’s Mingsheng Financial Leasing to build three ultra large containerships at a South Korea yard.

20.Ivan Glasenberg, GlencoreXstrata

                          

The head of the massive GlencoreXstrata empire is aiming for a full house. GlencoreXstrata, one of the world’s largest exporters of coal and a global oil trader, is now operating in an environment where analysts estimate one-third of the commodity is being sold at loss, while crude prices have collapsed 40% in five months.

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