Norway's Songa Bulk has promoted CFO Thomas Ronningen to CEO after Herman Billing left to join Star Bulk's management team.
The company sold its bulker fleet to Star in May.
Ronningen joined as CFO last year and was already on the payroll of Songa-backer Arne Blystad as financial controller of his Arne Blystad AS.
Songa also reported a net loss of $3.2m
