Ultrabulk chief executive Per Lange is stepping back from the front line after 11 years in the top job.

The veteran executive told the Danish bulker owner he wanted to spend more time with his family and on other priorities after 40 years in shipping.

Per Lange is stepping down as Ultrabulk CEO. The veteran executive began his shipping career as an AP Moller-Maersk trainee in 1981. Photo: Ultrabulk

But Lange is not leaving the group altogether. He will stay on as managing director of the parent Ultranav Group's subsidiary Ultranav Denmark when he stops at Ultrabulk on 1 January.

The CEO's replacement is Per van Appen, part of Ultranav's controlling Chilean van Appen clan and a former Ultrabulk boss.

The new boss studied business at Universidad Catolica de Chile until 1994 and then spent five years at shipbroker Galbraiths and shipowners Oldendorff Carriers and Cape Tankers.

In 2000, von Appen was involved in the formation of Ultrabulk, which he led from 2004 until 2010, when Ultrabulk merged with Eitzen Bulk.

Since then he has been heading up the von Appen family office and held various executive and board positions within the Ultranav Group.

Passing on the torch

The new CEO said: "I'm really looking forward to taking over the torch from Per Lange, who has built a very strong platform."

Von Appen added that the company has a highly professional and dynamic team.

Per von Appen will take over as Ultrabulk CEO on 1 January 2022. He is currently a director of the Danish bulker owner. Photo: Ultrabulk

"Together with COO Hans-Christian Olesen and the rest of the management team, I look forward to further developing and strengthening the Ultrabulk position in the market," he said.

Lange said he had planned the change for quite some time, to allow for timely preparations for his departure.

"I have had the pleasure of working with Per von Appen since 2010, including in his capacity as a board member of Ultrabulk," Lange added.

"He has ample and valuable experience within the bulk transport area, and I am confident that Per von Appen and the rest of the team will be able to further strengthen our excellent clients relations and further grow the activities."

A Maersk trainee in 1981

Lange started his shipping career at the AP Moller-Maersk Shipping Academy in 1981 and spent 10 years in senior commercial positions with the Danish company's Maerskbulk before joining the management team of EAC Shipping, which was subsequently acquired by Eitzen Bulk.

He became CEO of Eitzen Bulk in 2006, and after took over at Ultrabulk when Ultranav bought Eitzen Bulk in 2010.

Lange will continue to represent the group in various industry forums like Danish Shipping and act as an advisor and manager for other group projects.

Ultranav chairman Dag von Appen thanked the outgoing boss for leadership and efforts in building the Ultrabulk platform.

"We are very pleased that Per has accepted to stay with the group and continue to play an important role for our group going forward," he said.

"And we are happy that we were jointly able to find a balance, which allows Per more time for his family and other priorities, whilst still being able to rely on his vast experience and network."