Bulk carrier owner Belships has appointed a new chief financial officer to succeed Osvald Fossholm, who has decided to retire.

Yngve Aslaksen Gram has been promoted from his current position as vice-president of finance and on 1 July will begin in his new position at the shipowner, which has a fleet of supramaxes and ultramaxes.

Previous to joining Belships, Gram worked at ocean-bottom seismic survey firm Magseis Fairfield and at accounting giant EY.

Fossholm joined Belships in 1990 and has been its CFO since 2008. He will be available during the transition period with Gram, the company said.

“The board of directors would like to sincerely thank Fossholm for his long tenure, strong commitment and efforts for the company for more than 30 years,” Belships said in a release on Tuesday.

In late May, Belships sold another of its ultramax bulk carriers for an estimated $29.5m.

Belships booked net profit of $59.5m during the first quarter of 2022, up from $16.5m during the same period last year.

Chief executive Lars Christian Skarsgard told TradeWinds last month that he expects supramax asset prices to rise further by up to 10% by mid-2022.

The Norwegian firm said the result was mainly caused by the improved freight market and its larger fleet, which had 20% more vessel days compared to a year ago.