Grieg Shipbrokers managing director Finn Engelsen Jr is stepping down at the Bergen-headquartered company after nine years.
The veteran broker will leave on 1 January as part of a generation shift.
Engelsen joined the Grieg Group company in August 2011.
Grieg Shipbrokers said he has "helped build a strong foundation, transforming the company originally established in 1884 from an in-house local brokerage to the full-fledged operation it has become today".
Engelsen said: "It has been both interesting and challenging to manage Grieg Shipbrokers, but it is now time for me to step down and let a younger candidate lead the company through its next phase."
The boss added that he is now looking forward to pursuing other challenges outside Grieg Group.
He said: "Together, we have built a competitive operation with a really keen and energetic team of 60 people providing services to the shipping and offshore industries around the clock. I am pleased to leave it in good shape."
New boss wanted
Grieg Shipbrokers' board has started the process of recruiting a new chief executive, the company said.
Per Grieg Jr, representing the majority owner, said: "I have worked closely with Finn Engelsen during these interesting and challenging years, and always enjoyed the energy and knowledge Finn has brought to the organisation.
"We are proud to have reached a solid position in several shipbroking segments with an extremely motivated and energetic team. I like to thank Finn for his big efforts during these years."
Grieg Jr later told TradeWinds that Engelsen "has competencies that will be interesting for actors in the industry."
And he added: "We will be looking both internally and externally in finding the right person."
As for the future under a new boss, Grieg Jr added: "Finding good pathways forward in a changing landscape is key.
"Both the turn to more sustainable shipping as well as the increasing digitalisation and use of AI will create major challenges and possibilities for an agile shipbroking house."
The brokerage was founded by Joachim Grieg and now has services covering tankers, bulkers, offshore, gas, sale and purchase, research and valuation.
The company also has offices in Oslo, London, Shanghai and Singapore.
Flaship venture formed
In January, TradeWinds reported that Grieg Shipbrokers was going through a transformation as it moved into the larger bulker segments through a joint venture with Flaship Brokers.
This saw the Norwegian shop team up with the specialist in panamax and capesize chartering. The new venture has 20 brokers based in Seoul, Shanghai, Singapore and Antwerp.
"For a few years we have had a strategy of moving further from being an in-house broking firm for the Grieg group," Engelsen said at the time. "We have felt that we did not have sufficient volumes and portfolios to cater for the customers with the larger bulkers."
His ambition was to expand the venture further.
Grieg Shipbrokers has said it intends to grow its business in Asia.
Flaship was set up in Singapore and Seoul in 2013 as a dry bulk broking firm. In 2018, the company opened an office in Antwerp, primarily to serve its European clients.
