The appointment comes into effect from April 14, 2020, the Norwegian dry shipping company said.

Andersen was the Chief Executive Officer of Avance Gas AS and worked as the Head of Shipping for Petredec, Managing Director for Neu Gas Shipping and Head of the Maersk VLGC Pool.

Avance Gas will now be headed by its CFO, Peder C. G. Simonsen, as interim CEO until a permanent successor is appointed.

“We are confident Ulrik will move the Company forward and capitalise on the opportunities that lie ahead. On behalf of the Board, I welcome Ulrik to Golden Ocean and look forward to working with him,” Ola Lorentzon, Chairman of the Board, said.

The company’s former CEO Birgitte Ringstad Vartdal stepped down from her role as chief executive on November 30, 2019 after ten years with the company.

Ola Lorentzon, the chairman of the board of Golden Ocean, took over as interim CEO in the meantime.

“I am excited to be joining Golden Ocean and look forward to working with the strong organisation to drive the business forward in the years to come. Strong foundations have already been laid and I welcome the opportunity to build on these and to explore new opportunities for growth and consolidation,” Andersen added.