Pioneer Marine Inc. Announces the cooperation with BaltNav A/S, Copenhagen

Pioneer Marine Inc. and its subsidiaries a leading shipowner and global drybulk handysize transportation service provider enters into cooperation with BaltNav A/S, Copenhagen (“BaltNav”).

The owner of 16 handy size bulk carriers commenced as of October 3rd, a cooperation with the Danish operator BaltNav. Part of Pioneer Marine’s bulk carrier fleet will thereafter be commercially operated by BaltNav who already operates a fleet of about 15 handysize vessels.

Dimitris Papoulis, S.V. President and General Manager of Pioneer Marine, says “we look very much forward to this cooperation which will place Pioneer’s fleet in alternative markets and thereby expand service to our existing and new customers”

About Pioneer Marine Inc.

Pioneer Marine is a leading ship owner and global drybulk handysize transportation service provider. Pioneer Marine currently owns fourteen Handysize, one Handymax and one Supramax drybulk carriers.