There will be no major switch in strategy next year as Danish bulker owner Ultrabulk installs a new chief executive.
And the company, controlled by Chile's Ultranav Group, will not be pursuing fleet expansion for the sake of it.
Per von Appen, a member of the controlling von Appen family, will take over as CEO on 1 January, replacing the long-serving Per Lange.
Von Appen, currently an Ultrabulk director, told TradeWinds that as far as strategy goes, "some change is always good".
But he does not foresee anything major in 2022 in terms of a different approach to the business.
"We have good people and [I am] looking forward to see how I can help them excel," the director added.
Ultrabulk operated on average 137 bulkers last year, compared with 141 the year before.
The core fleet of owned and long-term chartered vessels was reduced by five bulkers to reach 43 in 2020.
"I think our fleet size should reflect the opportunities we see in the market. I don't mind if the number of operated ships go down," von Appen told TradeWinds.
Asked if the company might buy or sell bulkers in the current hot market, the director said the outfit is "long on ships" for the years ahead and will not likely increase that position.
Von Appen, who previously ran Ultrabulk between 2004 and 2010, said the company is active all the way from multipurpose ships to kamsarmaxes.
There are no plans to enter the capesize sector, he added.
Ultrabulk's net loss was $16.3m last year, versus a profit of $13.2m in 2019. The result was hit by impairments of $6.3m and a $3.2m loss on the sale of a vessel to another group company.
But von Appen is more upbeat on prospects for 2021 and 2022.
"Fortunately both years look very good," he said.
Current CEO Lange is leaving the front line after 11 years in the top job.
The veteran executive wants to spend more time with his family and on other priorities after 40 years in shipping.
Lange will stay on as managing director of Ultranav Denmark and will represent the company at a number of industry bodies like Danish Shipping.
"We will keep him busy on various fronts," said von Appen.
