Four research staff have resigned from Oldendorff Carriers and are rumoured to be joining a new company backed by former chief executive Peter Twiss.
The exits mark the second round of departures from the German shipowner and operator in under a week.
Chok Kian Loong has resigned from his role as Oldendorff’s global director of research, along with senior freight analysts Nicole Lee and Sim Yi Zhen and communication manager Frances Soh. All worked out of Singapore.
An internal email seen by TradeWinds confirmed that the team “have decided to pursue other careers outside of Oldendorff”.
The staff have already been removed from the company’s website.
Sources with knowledge of the matter suggest that the research team have left to join a new bulker operator founded by Twiss, Oldendorff’s former chief executive, who retired in March last year.
Twiss declined to comment on his plans last week when approached by TradeWinds and did not immediately respond to another request on Wednesday.
Chok has worked for the German company for more than 14 years. He declined to comment when contacted by TradeWinds.
Today’s news follows the departure last week of three key members of Oldendorff’s cargo desk, including its managing director, who are also understood have let to join the new platform.
The name of the new operator is not yet known but is said to be backed by big-name Greek interests.
These departures have not been the only staff resignations from the German shipping giant over the past couple of years.
About 30 people are understood to have left Oldendorff since late 2022 to join Costamare Bulkers.
However, neither the ex-cargo desk nor the ex-research team in Singapore have left to join Costamare Bulkers, according to sources with knowledge of the matter.
Twiss abruptly retired as Oldendorff’s CEO in March last year after almost 30 years at the firm.
He was succeeded by Patrick Hutchins, who at the time was promoted from head of Oldendorff’s capesize chartering activities and relocated from London to Germany for the new role.
Yannis Efstathiou, Oldendorff’s Copenhagen-based head of chartering, retired at the same time.
