Danish conglomerate Thornico has brought in experienced executive Ejner Bonderup to oversee its reorganised shipping operation.

The multipurpose and general cargoship operator said the move was part of a simplification of its business, which also involves another five-single vessel companies being made bankrupt as it exits shipowning in favour of an asset-light chartering business.

Bonderup, a former XO Shipping and Lauritzen Bulkers man, will begin on 1 June, replacing co-owner Thor Stadil as chairman of Thorco Projects.