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Senior Management changes at Pioneer Marine

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Dry Bulk,

Pioneer Marine Inc, a global dry bulk handy size transportation service provider, has announced changes in its Senior Management Team.

Torben Janholt, who has served as Board Member of the Company since 2013, has been named as the new CEO of Pioneer Marine Inc. Mr. Janholt is the former CEO and President of J. Lauritzen and the Chairman of Danish Shipowners' Association (2005-2009). In his new role, Mr. Janholt brings vast executive experience to Pioneer Marine.

Korinna Tapaktsoglou has been appointed as Chief Financial Officer assuming responsibility for all financing related matters. In her expanded role, Ms. Tapaktsoglou will be able to leverage her deep expertise across the group.

Dimitris Papoulis has been promoted to General Manager, SVP of Pioneer Maritime Inc, most recently served as Vice President of Commercial Operations, a position he held since 2013. Mr. Papoulis will oversee commercial and operations of the company.

Sam Tsui is leaving the Company to pursue other opportunities.

Bradley Dietz, Independent Director, commented, "We are pleased to have Torben Janholt serve in his expanded role as CEO. He brings extensive knowledge of Pioneer and his leadership as industry executive is unparalleled."

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