The board of Steamships Trading Co. Ltd. appointed Geoffrey Cundle to succeed David Cox as Managing Director, effective from January 1, 2013. Mr. Cundle was previously Executive Director of Swire Pacific Ltd. Mr. Cox will remain a director of Steamships.

Mr. Cundle is employed under a continuing contract with no fixed term subject to rights of termination and the holding of a valid Papua New Guinea work permit and employment visa.