Kocherla will take responsibility for long-term strategy in shipmanagement, newbuildings and marine insurance, a statement said.
Pac Basin’s move comes only a few days after it called off discussions over the sale of its towage business after an offer failed to materialise.
The owner, which had been looking to dispose of the towage arm to focus on its core dry-cargo division, simultaneously issued a profit warning after the proposed sale flopped.
