Ejner Bonderup is leaving his position as chief executive of Danish dry bulk operator XO Shipping.
Bonderup, a former head of dry cargo at Norden, joined the company in 2016.
Bonderup tells TradeWinds he and founder Christian Levin were working to enlarge the capital basis for XO Shipping.
“The process has been to slow and we cannot grow with the capital situation we have now,” he said.
Bonderup stresses that the leaving process has been going very well and he has yet to decided what to do next.
XO Shipping was started by Levin in 2010 and operates 25 to 40 vessels in the handymax to supramax segments, largely in the spot market.
Bonderup is being replaced at XO Shipping by existing executives Alexander Sillehoved and Kim Holberg Pihl.
The latter says XO’s financial results for 2018 are not yet ready, but they will show black figures. Pihl adds the size of XO’s operation has been quite stable as of late.
In July 2016 it was announced that Bonderup was leaving his former position as head of Norden’s dry cargo department.
Bonderup joined Norden in 2012 from another Danish company J Lauritzen.
