Pacific Basin names new executive director, non-executive director resigns

Pacific Basin Shipping Limited announced the appointment of Kristian Helt as an executive director, effective October 13, 2025. Helt, 47, brings over 25 years of shipping industry experience, having joined the group in November 2002. He will serve an initial one-year term, renewable, and is eligible for re-election at the company's annual general meeting. Helt's current annual emolument is approximately $489,849, payable in monthly installments, in addition to a discretionary bonus. He also holds 11,770,000 company shares, with 2,943,000 shares yet to vest between July 2026 and July 2028.

Concurrently, Alexander Howarth Yat Kay Cheung resigned as a non-executive director, also effective October 13, 2025. This resignation is intended to mitigate the potential applicability of the United States Trade Representative Section 301 Annex 1 provisions, which impose port fees on Chinese-owned or operated vessels. Following his departure, Cheung will cease to be a member of the audit committee and remuneration committee. Dr. Kirsi Kyllikki Tikka, an independent non-executive director, will be appointed to the audit committee. Cheung will also serve as an external strategic adviser.