The Danish shipping company Lauritzen Bulkers has restructured at the top.
The new CEO is Martin Sato, who is returning to the company. Kristian Hassing Wærness takes over the position of CFO.
Martin Sato has been a director and partner of the dry bulk company Baltnav since 2017 and took on the role of CEO last year. Previously, Sato worked in the bulk business of J. Lauritzen. He is therefore “ideally suited” for his new position, it is said. He will take up the position by December 1, 2025 at the latest. Sato succeeds Niels Josefsen, who retired in August.
Martin Sato becomes head of Lauritzen Bulkers
“Martin returns to Lauritzen Bulkers with in-depth knowledge of all aspects of bulk shipping,” said Kritian Morch, CEO of the shipping company. “He embodies Lauritzen’s values, culture and ethics in its business strategy. (…) On behalf of the Board, I welcome Martin and look forward to working with him and the Lauritzen Bulkers team to further grow the business.”
“My career in bulk shipping started at Lauritzen Bulkers and I am honored to take on the position of the new CEO,” said Sato on his return. “I look forward to rejoining the team and contributing to the continued success of Lauritzen Bulkers.”
Kristian Hassing Wærness becomes new CFO
On August 1, 2025, Kristian Hassing Wærness will also become the company’s new Chief Financial Officer (CFO). He succeeds Jacob Winthereik, who will previously serve as CFO and interim CFO at Lauritzen Bulkers. Following the handover to Wærness, he will join the sole shareholder J. Lauritzen as the new CFO. Wærness was most recently CFO of CIP Management Group and previously held similar positions at Cowi and Norden.
“Kristian brings extensive industry knowledge to Lauritzen Bulkers and I am very much looking forward to working with him,” said CEO-designate Sato. Wærness himself said: “I am looking forward to becoming part of a strong team and contributing to the development of Lauritzen Bulkers.”
Lauritzen Bulkers specializes in the operation of Handysize and Ultramax bulkers. The fleet currently comprises around 100 vessels, six of which are owned. The company employs around 110 people and has offices in Copenhagen, Singapore, Dubai, Hong Kong, Poland and Canada.
