The board of directors of Pacific Basin Shipping Limited announced that Mr. Peter Schulz (Mr. Schulz) has given notice of his resignation as executive Director and a member of the executive committee of the Company. Mr. Schulz is leaving the Company for personal and family reasons and he will step down from the above roles with effect from 31 March 2023. Mr. Martin Fruergaard, the Chief Executive Officer of the Company, will assume the interim duties and responsibilities of the CFO until a new CFO is appointed.