Pacific Basin Shipping is looking for a new chief financial officer after the resignation of Peter Schulz.

The Hong Kong bulker owner said the finance boss is also leaving the executive committee.

Schulz has quit for “personal and family reasons” and his last day will be 31 March. He took over the role in 2017.

Chief executive Martin Fruergaard will act as interim CFO.

Schulz confirmed he has no disagreement with the board and is not aware of any matter that needs to be brought to the attention of shareholders.

“The board has instructed the senior management to commence the search for Mr Schulz’s successor …” Pacific Basin said.

“The board would like to express its sincere gratitude to Mr Schulz for his valuable contributions and efforts to the company over the years.”

The outgoing director previously worked as an analyst with Enskilda Securities in Stockholm between 1996 and 1998, before spending six years with Dresdner Kleinwort in London in various merger-and-acquisition and corporate finance roles.

Well-travelled finance man

From 2004 until 2006, he served as corporate finance partner with financial advisory firm Vencom, based in Stockholm and London. He then joined Dutch bank ABN Amro, eventually becoming head of energy in Hong Kong from 2008 to 2011.

He subsequently worked for Royal Bank of Canada Capital Markets, Kuala Lumpur-based exploration and production start-up Matrix Capacity Petroleum and BW Group’s BW Pacific in Singapore.

His last big deal looks likely to be the purchase of six secondhand bulkers for $125m in cash from Ultrabulk this month.

The owner and operator of 263 supramaxes and handysizes acquired four ultramaxes, a supramax and a handysize, all of which were built after 2011.

Three of the ultramaxes — a 61,500-dwt ship and a 61,400-dwt vessel built in 2012 and a 61,200-dwt bulker built in 2016 — were constructed at Imabari Shipyard in Japan. The fourth is a 61,700-dwt ship constructed in 2012 at Japan’s Oshima Shipbuilding.