Pacific Basin has named a former Maersk veteran as its new chief financial officer.

Michael Tonnes Jorgensen, 57, will take up the post on 17 July 2023 subject to the issuance of his Hong Kong employment visa, the shipowner said.

The 57-year-old Dane started his career in shipping with A.P. Moller-Maersk in 1988 as a trainee.

Between 1988 and 1994, he held various junior financial management positions in France and Denmark before moving on to become general manager and chief financial officer of Maersk Russia.

From 1995 to 2009 he then held various positions within the Maersk group including a stint as CFO at Maersk Air Group

He then moved to Norden for six years where he was CFO, before leaving in 2016 to serve as an independent management consultant and an external lecturer at Copenhagen Business School.

Less than a year later he was back in shipping joining ASYAD Shipping Company and ASYAD Drydock Company in 2017 as the group's CFO until now.

He also served as acting chief executive officer of ASYAD Shipping Company, which operates a diverse fleet comprising VLCCs, gas carriers, product & chemical tankers, bulkers and container ships, from 2019 to 2020.

He is a graduate of the Copenhagen Business School with a graduate diploma in financial and management accounting.

He takes over as CFO at Pacific Basin following the departure of previous incumbent Peter Shulz, who left in March this year due to “personal and family reasons”.

Chief executive Martin Fruergaard has been acting as the bulker owner’s interim CFO until a replacement was appointed. Shulz had held the CFO post at Pacific Basin since 2017.