Norvic Shipping has named Urs Dur as its new group chief financial officer (CFO) in the latest round of management changes at the Toronto-based bulker owner.
He joins with immediate effect and will work out of the shipowner’s New York office, the company confirmed late Monday.
Dur brings with him over 20 years of experience in the shipping industry, most recently as CFO at Guardian Navigation and Valhalla Shipping formerly known as TBS Shipping.
Prior to that, Dur has held senior positions at Clarkson Capital Markers, Lazard Capital Markets, DVB Bank and Marine Money International.
Late TradeWinds reported that Norvic was shifting its management functions to New York with the aim of b eing closer to the US business activities and commercial environment.
It also confirmed that chief operating officer Mudit Paliwal and Henrik Jeremiassen, previously managing director in Denmark, had left and their positions by “mutual agreement”.
Norvic operates about 100 bulkers, of which about 55% are supramaxes, 25% handysizes and 20% panamaxes from eight offices worldwide.
It was founded in Toronto in 2006, initially focusing on the aframax and suezmax segments. It still has a minor involvement in the tanker side.
In 2012, it went into the bulker business and has since significantly grown the fleet. Last year it generated more than 25,000 ship days during the calendar year and doubled its turnover.
