Co-founder Mads Boye Petersen confirmed the departure but declined to give any details on the reasons for the changes.

Nordic Bulk, which was established in 2009, says Bonfils resigned and will leave today.

It said the co-founder made an “invaluable contribution” to the development of the business.

Pangea Logistics of the US is the major shareholder in Nordic Bulk Carriers and rumours in Copenhagen suggest today’s changes come with it about to inject more money into the company.