Lucio Bonaso, d'Amico Group's bulker supremo, has died aged 72.
The Italian company's owners, Cesare and Paolo d’Amico, said they felt "great sadness" at his loss.
Bonaso joined the group in 1998 and became chief executive of the dry bulk division in 2012.
The d’Amico Group operates over 70 ships on the bulk side, owning more than 20 carriers, as well as product tankers.