Bulker operator Western Bulk Chartering has confirmed that it is making a significant cut to its headcount across its global organisation.

CEO Torbjorn Gjervik, who started in the top job on 1 September, confirmed the redundancies to TradeWinds.

He said: “To be a winner in this highly competitive dry bulk operator world we need to be among the sharpest when it comes to our culture, customer focus, systems, brand, cash and cost base.