Marsoft Inc. is a privately held company founded in 1979, with offices in Oslo, Boston, and London. Marsoft Inc. is the world’s largest independent advisory group focusing solely on the maritime industry. 


Our primary focus is providing expert, objective, and timely support for senior management in making investment, financing, and chartering decisions. Our services are based upon quantitative analysis of market developments and sophisticated analysis of risk and financial performance. We develop professional and corporate decision support systems for our clients incorporating Marsoft  data and analytics to support internal management decision-making.

The Team

Paul Eckbo


Paul Eckbo is the founder and Chairman of the Marsoft Group. His focus includes fundamental analysis of oil, energy and shipping markets and providing timing and portfolio advice to owners, charterers and investors, shipping and offshore related, real and financial assets and securities. Dr. Eckbo has held senior positions in academia and business and has been extensively involved in global business ventures with responsibility for business development, strategy and corporate finance.

Dr. Eckbo has a B.A. from the Norwegian School of Economics (Bergen) and a Ph.D. in Management from the Sloan School of Management at MIT.

Arlie Sterling


Arlie Sterling is President and co-founder of Marsoft Incorporated. He is responsible for the development and commercialization of Marsoft’s decision support, risk management, and credit rating services. Dr. Sterling advises shipowners, investors and financial institutions regarding the development and execution of effective investment, chartering and risk management strategy.

Recently, he has been involved in the implementation of Basel II credit rating system for several major ship finance institutions.

Dr. Sterling has an S.B. from the Massachusetts Institute of Technology, an M.S. from Northwestern University, and a Ph.D. in Applied Economics (concentration in finance and macroeconomics) from the MIT Sloan School of Management.

Belinda Adye


Belinda Adye is a partner and joined Marsoft Inc. in 1990. She is responsible for sales in Europe and is the head of Marsoft’s London office.

Mrs. Adye has a BA Hons in French and Italian from University College London. Prior to working at Marsoft, Mrs. Adye had experience in teaching, PR and theatre.

Costas S. Bardjis


Costas Bardjis is a partner and joined Marsoft Inc. in 1986. He has directed numerous projects at Marsoft, with his most recent focus on the liner and containership markets and credit rating.

He holds a diploma in Naval Architecture and Marine Engineering form the National Technical University of Athens, a M.S. in Ocean Systems Management from MIT, and has completed his studies for a Ph.D. in Corporate Strategy and Shipping Economics in the Sloan School of Management at MIT.

Kevin Hazel


Kevin Hazel is a Marsoft Inc. partner and joined Marsoft in 1989. Prior to joining Marsoft, Mr. Hazel was an investment analyst in the financial services industry.

Mr. Hazel has an S.B. in Management from MIT’s Sloan School of Management and an M.A. in Economics from Boston University.

His most recent assignments include: Analysis of worldwide refinery capacity and the impact on the product tanker market; Development of the steel and energy industries and their impact on the dry bulk markets; Projecting future trade developments in China and Russia (for last year’s IRM course).

Nikolay Koumpikov

Associate Partner

Nikolay Koumpikov works as a Software Architect and a Senior Software Engineer, contributing to the Marsoft software products, since joining the Marsoft team in 2003. Prior to this he worked as a Navigating Officer on bulkers, containerships, and multi-purpose ships.


Mr. Koumpikov has a Master in Electrical Engineering and a Master in Maritime Navigation from the Nikola Vaptsarov Naval Academy, Bulgaria. He also holds a Master in Information Technology from Harvard University.

Ingar Bergh

Ingar Bergh is the Chief Operating Officer of Global LNG Services AS, a company dedicated to develop and commercialize large scale, low cost LNG production solutions. Mr. Bergh advises Marsoft on LNG markets, technology and projects. He has many years of experience as an advisor and project manager within the shipping and oil & gas industries. Mr. Bergh joined Marsoft in 2012 and headed the Oslo office until 2017. Before joining Marsoft he worked with the DNV GL group as a risk management consultant and for the Bergen based shipowner Green Reefers ASA.


Mr. Bergh holds a BSc in logistical engineering, an MSc in supply chain management and an MBA in Finance. He is also a Certified Financial Analyst.

Hauke Kite-Powell

Hauke L. Kite-Powell is Senior Analyst for liquid gas shipping at Marsoft, focusing on the LNG and LPG tanker markets and trades. 


He holds degrees in naval architecture (B.S), technology and policy (M.S.), and ocean systems management (M.S. and Ph.D.) from the Massachusetts Institute of Technology. 


Dr. Kite-Powell also holds appointments as Research Specialist at the Marine Policy Center of the Woods Hole Oceanographic Institution and Lecturer at the Massachusetts Maritime Academy.

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