New Pacific Basin CEO presents strategy in first public appearance

Martin Fruergaard has presented his key strategy in his first public appearance as the new CEO of Hong Kong-based Pacific Basin. The dry bulk operator has posted unusually strong half-year results on the back of a market upturn that by all appearances has only just begun.

Photo: Cyprus Shipping Deputy Ministry / PR

A little less than a month ago, former CEO of Ultragas Martin Fruergaard had his first day at the Hong Kong-based dry bulk operator Pacific Basin, but so far most of the work has concerned meeting the employees and taking over the reins of the business from Mats Berglund, who has helmed the company for many years.

Today, Fruergaard presented the key points in a strategy aimed at moving the carrier forward at a time when the dry bulk market has recovered in a historic upturn after a decade of economic struggles for many operators.

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