New York-listed Pangaea Logistics Solutions lost its founder and guiding force with the death of Ed Coll in December, but his influence continues as the bulker company reshapes its management team.

An important step comes with the elevation of Mads Boye Petersen from managing Pangaea subsidiary Nordic Bulk in Copenhagen to chief operating officer of the parent company.

Pangaea chief executive Mark Filanowski has called Petersen, 42, “the next generation” of the management team.