A managerial shake-up at Italian shipping company Premuda will reunite two former colleagues in a new-look executive team.

Tanker veteran Michael Valentin is joining a three-person management team charged with taking the Italian bulker and tanker owner public again.

He is linking up with ex-colleague Marco Fiori, the chief executive of Premuda, in what is seen as a nod to the Genoa-based company’s aspirations in the product tanker sector.