Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

FUTURE BOARD CHANGE

The Board of Directors (the "Board") of Pacific Basin Shipping Limited (the "Company") announces that Mr. Andrew Thomas Broomhead has expressed his intention to resign his position as Chief Financial Officer ("CFO") and Executive Director of the Company in 2017.

Mr. Broomhead has indicated his wish to relocate with his family to the United Kingdom during the summer of 2017. Accordingly, Mr. Broomhead intends to step down from the role of CFO and Executive Director of the Company by or before the end of December 2017, subject to the Company's recruitment of a suitable successor. The Board has instructed the senior management to commence the search for Mr. Broomhead's successor.

Mr. Broomhead confirms that he has no disagreement with the Board and there is no matter which needs to be brought to the attention of holders of securities of the Company in respect of his intended resignation.

Formal announcements under Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong in relation to Mr. Broomhead's resignation as CFO and Executive Director of the Company and the appointment of his replacement will be made by the Company in due course.

The Board would like to express its sincere gratitude to Mr. Broomhead for his valuable contribution to the Company and his efforts over the years.

By Order of the Board

Pacific Basin Shipping Limited Mok Kit Ting Kitty Company Secretary

Hong Kong, 9 January 2017

As at the date of this announcement, the Directors of the Company are:

Executive Directors: David Muir Turnbull, Mats Henrik Berglund, Andrew Thomas Broomhead and Chanakya Kocherla

Independent non-executive Directors: Patrick Blackwell Paul, Robert Charles Nicholson, Alasdair George Morrison, Daniel Rochfort Bradshaw, Irene Waage Basili and Stanley Hutter Ryan

Pacific Basin Shipping Limited published this content on 09 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 08:38:05 UTC.

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