Michael Bonderup has stepped down as managing director of handysize bulker operator BaltNav, in which he is a partner.
His departure follows the news in March that Line Lund Clausen is joining the operator as a partner, having left Norden where she was head of the supramax desk in the Atlantic.
TradeWinds understands that BalNav director Martin Sato will head up the operation in the meantime.
Sato declined to comment on the matter when approached by TradeWinds and Bonderup did not respond to a request for comment.
Market participants reacted with surprise to news of Bonderup’s departure on Thursday.
Bonderup joined BaltNav in 2015, having been Torm’s head of dry bulk and worked for Norden before that.
He is a partner in BaltNav, leaving the future of his shareholding in the company in question.
Bonderup is also a board member alongside Lars Brammer and chairman Peter Jein, who owns the Navision parent group.
Bonderup is also chairman of another Navision group company, Nordic Energy Partners.
BaltNav typically operates a fleet of 55 to 65 bulkers from handysize up to ultramax.
As well as its Copenhagen headquarters, the company has a satellite office in Singapore. It employed 14 people as of January this year.
