Pioneer Marine Inc. announces Senior Management change

MAJURO, MARSHALL ISLANDS – (Marketwired – May 30, 2017) – Pioneer Marine Inc. (OSLO-OTC: PNRM) (“Pioneer Marine,” or the “Company”), a global drybulk handysize transportation service provider, announced today that Mr. Pankaj Khanna is leaving the Company and will no longer serve as CEO.

Mr. Sam Tsui, who has served as CFO of the Company since its inception, will serve as Interim CEO, as well as continue to be CFO. In connection with Mr. Khanna leaving the Company, he will also leave his other roles with other Pioneer Marine companies.

Mr. Bradley Dietz, Independent Director, commented “Pioneer Marine believes it continues to be well-positioned to serve the dry bulk industry, evaluate strategic acquisition opportunities, while benefitting from improving dry bulk market fundamentals. Additionally, the Board thanks Mr. Khanna for his service to Pioneer Marine and wishes him continued success in his career.”

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