The firm, which is based in Stamford, Connecticut, issued a brief statement about Flynn’s death on Friday morning.

“It is with great sadness that we advise you of the sudden passing of our president, Bob Flynn,” wrote long-time colleague Curt Townshend.

“Our thoughts and prayers are with Bob’s family, especially his daughter Christine. We will advise you further details in due course.”

Flynn graduated from the US Coast Guard Academy in 1974 and served as a commissioned officer thereafter.

He joined MJLF in 1979 shortly after its inception and became a shareholder in 1998, according to a profile found on the company’s website.

Between 1987 and 1999 Flynn sat on the board of directors of the Association of Shipbrokers and Agents. From 1995 to 1997 he served as the organisation’s president.

Prior to his death, he was a member of the American Bureau of Shipping, the Society of Marine Arbitrators and chairman of the US Coast Guard Foundation.

Flynn’s wife Roseanne died at the age of 59 at their home in Darien, Connecticut in October 2011.

Update: A wake will be held this Wednesday, 25 February 2015. A funeral will follow on Thursday morning.

In lieu of flowers Flynn's family is encouraging mourners to make a donation to the Coast Guard Foundation in his honour.