Paul Pathy, president and CEO of Canada's largest dry bulk shipping company, Fednav, has been elected president of BIMCO, the world's largest shipping association.

Pathy will serve a two-year term, leading BIMCO's efforts in maritime policy, sustainability, and industry regulation. He takes over as the 47th president and is the first BIMCO President from the Americas. 

He is taking over from Nikolaus H. Schües who is finishing his two-year term.

"I am honoured to take on the role of President at BIMCO. Our industry faces significant challenges, and I am committed to raising awareness about the invaluable contributions of the shipping industry and seafarers," Pathy, said.

"We are at a critical juncture where free trade is under threat and geopolitical tensions are escalating. It is crucial that we support our industry, ensure the safety of our seafarers and facilitate a global marketplace."

BIMCO said to ensure organisational continuity, the president designate sits on the Board for two years before being put up for election as president. 

Meanwhile, the outgoing president remains on the Board for an additional two-year term as immediate past president, after which past presidents are ex-officio Board members.

Pathy takes over after a two-year period as President Designate. 

BIMCO has elected Ioanna Procopiou, vice president and board member of the shipping association, as president designate. Procopiou, who leads Prominence Maritime SA, will assume the role following the completion of the current term.