Hong Kong-listed dry bulk shipping company Pacific Basin has announced that the company’s CEO Mats Berglund has decided to retire and leave the company on July 30.
The company has appointed Martin Fruergaard, currently CEO of Ultragas as the new CEO. Fruergaard, a Dane, also previously served several senior roles in Maersk Bulk Carriers, Maersk Tankers and Maersk Drilling.
“Pacific Basin is today one of the world’s largest listed dry bulk companies with a long track record of outperformance. Our liquidity position is strong and spot market rates have recovered to above pre-pandemic levels. We are well positioned for the future. It has been an honour serving with Pacific Basin for these past nine years, and it is time for me to step down. I am happy that the CEO position will go to Martin whose experience and energy will be good for the company,” said Berglund who intends to return to Sweden this summer.