Peter Twiss has retired with immediate effect as president and CEO of Oldendorff Carriers after more than 27 years at the giant bulker owner-operator.

The Copenhagen-based head of chartering, executive director Yannis Efstathiou, is also retiring after 22 years at the company.

Staff were made aware of the departures in a shock announcement circulated to employees on Tuesday morning and seen by TradeWinds.