Ejner Bonderup will take over as CEO of Danish dry bulk carrier XO Shipping, the carrier confirms to ShippingWatch.

The news come in the immediate wake of Norden's announcement earlier on Friday that Ejner Bonderup will step down as Executive VP and Head of dry cargo to instead work at another shipping company. ShippingWatch can now report this concerns the job as Chief Executive at XO Shipping.

Here the new CEO will continue the growth of the past-faced carrier which last year delivered a profit of USD 4.1 million dollars in spite of the challenging market conditions. It remains unknown when he will begin the new job.

"Ejner Bonderups primary tasks will be to create a bigger growth platform, maintain key employees and partners as well as attracting new competencies and business partners to support the company's ambitions," writes Chairman Kent Hedegaard in a press release.

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At XO Shipping, Ejner Bonderup will replace owner and founder Christian Levin as CEO. He will instead join the Board of Directors.

"Christian Levin has helped grow XO Shipping sA/S since the carrier was established almost six years ago, and he wishes to focus on the strategic developments for XO Shipping A/S, in terms of customers as well as finances, and these efforts will going forward be concentrated around the Board of Directors," says Kent Hedegaard.

The executive management will thus consist of CEO Ejner Bonderup and COO Rico Romme Nielsen, while the Board of Directors will consists of Christian Levin, Kim Pihl and Kent Hedegaard.

XO Shipping was established six years ago and has delivered solid profits since the beginning. This is attributed to factors such as the carrier working with a model in which it neither owns nor leases vessels on long term contracts. Rather, the carrier usually only books the vessel once a cargo has been secured.

In addition to its headquarters in Copenhagen, the carrier also has an office in Geneva, Switzerland.

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