The Board of Directors of Pacific Basin Shipping Limited announced that Mr. Mats Berglund has decided to resign and retire from the position of Chief Executive Officer of the Company has agreed with him that his last day of service will be 30 July 2021. The Board also announced that Mr. Martin Fruergaard has been appointed as an Executive Director with effect from 2 July 2021 and that he will take over the full responsibilities as the Chief Executive Officer of the Company from 31 July.