Pacific Basin Shipping Limited

We’re investing in energy efficiency of our ships and operations to save money on fuel and comply with maritime decarbonisation rules. We also do what we can in our offices ashore to minimise our energy consumption and greenhouse gas emissions. It’s easy to forget that even modest efforts count, such as turning off the lights and shutting down computers and other equipment when they’re not needed. As WWF’s symbolic annual Earth Hour event approaches at 8:30pm on 22 March, we encourage everyone to switch off non-essential lights for an hour, give our Earth a rest, contemplate the vital role nature plays in our lives, and build energy efficiency practices into your lives every day. #PacificBasin #EarthHour #GiveAnHourForEarth #EnvironmentalResponsibility #WithYouForTheLongHaul

Our Annual Report 2024 is now available to download from our website at www.pacificbasin.com/2024. The report showcases our business and financial performance in 2024, how we are committed to delivering sound shareholder value, our views on the shipping sector, our plans to invest in our future fleet and our strategic priorities for 2025. #PacificBasin #AnnualReport #WithYouForTheLongHaul

We ran our Indian Officers’ Seminar in Goa for the first time last month, and feedback from our attending officers and fleet management team was hugely positive on account of the beauty of the location and the impact of the seminar. Our Officers Seminars serve to promote knowledge sharing, tackle significant challenges and enhance team dynamics through engaging discussions, workshops and activities. Our ship managers and our Indian Officers delved into important topics such as revised MARPOL regulations, machinery failures, common fleet issues, optimisation of commercial operations – including bunker management and cost-efficiency strategies – and threats like drug smuggling by cartels. Team-building activities were again a favourite agenda item, promoting a stronger sense of unity and collaboration within the Company. Thank you to all our colleagues who participated in the seminar! #PacificBasin #GoaSeminar #TrainingAndDevelopment #OurHeroesAtSea #WithYouForTheLongHaul

Today is International Women's Day when we at Pacific Basin reaffirm in particular our support of every woman’s right to pursue a career and enjoy opportunities for career advancement, recognition and rewards based on their merit, free of bias and discrimination. We recognise the value of having diverse colleagues with different differences (of which gender is just one), which makes our PB team and our business more dynamic, vibrant, innovative and successful. We strive to make all our colleagues – female and male – feel supported in their unique efforts to contribute to our business’ resilience and success. Our shore-based team comprises staff of 36 nationalities with a relatively well-balanced gender and age distribution overall. We are also investing in the development of a growing number of female seafarers on our ships. Recognising that gender diversity at sea can come with certain challenges, we are committed to finding ways to enhance the sustainability of gender diversity on cargo ships. We salute our female Pacific Basin colleagues at sea and ashore! #PacificBasin #InternationalWomensDay #Diversity #WithYouForTheLongHaul

We have effective strategies to reduce our fleet’s emissions and discharges consistent with increasingly ambitious regulations, and we pursue a number of more modest initiatives to reduce the environmental impacts of our offices and shore-based activities around the world. Pacific Basin has again been acknowledged as a Hong Kong Green Organisation in recognition of our level of Green Leadership, the effectiveness of our Environmental Programme and Performance and our efforts around Partner Synergy. The Hong Kong Green Organisation Certification serves to promote environmental excellence among organisations in Hong Kong and to benchmark organisations that have made significant achievements in green management. We continually look for ways to reduce our environmental impacts and promote sustainable practices in our operations, as they typically result in compliance, cost savings and a healthier workplace – thus making good business sense as well as being better for the environment! #PacificBasin #SustainableShipping #EnvironmentalResponsibility #HongKongGreenOrganisation #WithYouForTheLongHaul

Today we announced our 2024 Annual Results. Geopolitical and climate-related events ironed out the seasonality that typically characterises the dry bulk market, making it challenging to capture the full value of the market. Even so, we generated a net profit of US$131.7 million yielding a return on equity of 7%, we are debt free on a net basis with available committed liquidity of US$547 million, we made good progress in delivering on our strategy and priorities, we remain positive about our business and our sector in the longer term. The Board recommends a final dividend of HK5.1 cents per share which, combined with the interim dividend distributed in August 2024, represents 50% of our net profit for the full year, excluding vessel disposal gains. We thank all of our Pacific Basin seafarers and shore-based staff as well as our customers and business partners for their loyalty and great support in 2024, and we look forward to tackling together the challenges and opportunities of 2025! For more info, please refer to our 2024 Annual Results press release: https://bit.ly/PBAR2024_E #PacificBasin #Handysize #Supramax #Ultramax #DryBulk #SustainableShipping #WithYouForTheLongHaul 

Lion in the office! We marked the Year of the Snake with a vibrant Lion Dance at our headquarters in Hong Kong. This traditional lion symbolises wisdom, strength and stability, and its dance is believed to bring good fortune while driving away evil spirits. Wishing you and your loved ones good luck and good health in the Year of the Snake! #PacificBasin #WithYouForTheLongHaul #LunarNewYear #LionDance

Experience sharing and collaboration are key features of sustainable business development. And where we can, we like to inspire and learn from others in our community to excel in ESG areas that matter most to support a responsible and resilient shipping industry. One forum that we regularly attend for such sharing is the monthly “Sustainability in Shipping” meeting of shipping executives in Hong Kong. Pacific Basin hosted the January “SIS” meeting at our office for a casual sharing about our recent newbuilding order for four Ultramax dual-fuel “LEV” vessels able to run on green methanol as well as biofuel and fuel oil. In particular we shared our insights into our decisions and the challenges we faced – and some that we still face – and the Q&A and discussion that ensued proved to be very valuable to us as much as to our guests. That’s the benefit of bringing around a table leading ship owners, ship managers, academics and former policymakers who understand the issues and have between them the wide-ranging experience and expertise to collaborate and make progress. We thank our fellow “SIS” participants from the Hong Kong shipping community and look forward to many more monthly round-table sessions together! #PacificBasin #SustainabilityInShipping #HongKongShipping #WithYouForTheLongHaul

It is the Year of the Snake! Pacific Basin wishes you and your family a Happy Lunar New Year filled with prosperity, happiness and success! #PacificBasin #WithYouForTheLongHaul #YearoftheSnake

Our global Operations Team recently gathered in Hong Kong for a week of meetings, workshops and other activities, a favourite of which was an afternoon of dragon-boating. The event proved to be a memorable way to improve communication, enhance team dynamics, and build a stronger, more cohesive team, while getting some healthy exercise and having a fun time together. It was great to see so many of our international colleagues come together at HQ! #PacificBasin #DragonBoat #TrainingAndDevelopment #TeamBonding #WithYouForTheLongHaul