Pioneer Marine Inc. Reports Impairment Charge for the Second Quarter Ended June 30, 2021

Pioneer Marine Inc. is a global shipping company specializing in the transportation of dry bulk commodities. The Company owns and manages dry bulk carriers with safety, customer service and environmental protection. Its client portfolio includes a variety of reputable international shipping companies and trading houses. The Company’s services include commercial services, technical management services, legal - insurance and claims services, and finance-reporting and treasury services. Its commercial services include chartering, operations and sale and purchase (S&P). Its technical management services include technical services, and marine health and safety security quality and environment (HSSQE). Its legal - insurance and claims services include insurance and claims handling and corporate. The finance - reporting and treasury services include financing, reporting and treasury.