Martin Sato returns as CEO at Lauritzen Bulkers

Denmark’s Lauritzen Bulkers has appointed Martin Sato as its new chief executive.

Sato, who previously spent 18 years at J. Lauritzen’s dry bulk business, will join the Copenhagen-based shipowner and operator by December from fellow handysize bulker player BaltNav, where he has served as CEO since 2024.

“Martin returns to Lauritzen Bulkers with deep knowledge from all parts of dry bulk shipping. He embodies the Lauritzen values, culture and ethics in his approach to doing business,” said Kristian Morch, chairman of Lauritzen Bulkers.

Sato will take over from Martin Egvang, who stepped down in March this year.

Commenting on his appointment, Sato said, “My career in dry bulk shipping began at Lauritzen Bulkers, and being offered the opportunity to take on the position as their new CEO is an honour. I am excited to rejoin the team and contribute to the continued success of Lauritzen Bulkers.”

The company is also getting a new chief of finance. Former head of CIP Management Group, Kristian Wærness, has been appointed to start by August, replacing Jacob Winthereik, who will transition to J. Lauritzen as CFO and who also stepped into the interim CEO role at Lauritzen Bulkers, following Egvang’s resignation.