While Lazaridis will take Marinakis’s chair at the head of the listed company’s boardroom table, the Greek owner will retain the chief executive and chairman’s title at sponsor Capital Maritime & Trading.

Sources close to the company say the change of chairman fits its wish to operate with a "fully professional board".

Marinakis said in a statement that Lazaridis’ previous work a chief executive of Capital made him the perfect candidate for the chairmanship.

“As CEO of the partnership's sponsor and largest unitholder, CMTC, I remain strongly committed to the Partnership and look forward to continuing to support it in the future,” Marinakis added.