We believe that our investment in the development and training of our staff at sea and ashore drives engagement, motivation and retention of our staff and is key to maximising their safety and productivity.

Employees at Sea

We train our seafarers to standards equal to or exceeding those required by the International Maritime Organization’s International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (“STCW”). This significant investment we make in seafarer training at sea and ashore drives our safety and external inspection performance indicators which are consistently among the best in the industry.

• We host multiple officer and ratings training seminars biannually at our crewing centres in Philippines, China and India. Additionally, we hold annual officer seminars in Ukraine. However, the conflict in Ukraine has changed the nature of our officer training programme.
• In 2023, we conducted 5 training seminars attended by 293 seafarers, 6 mini-training seminars attended by 274 seafarers, 34 training webinars attended by 2,320 seafarers, and 23 external trainings attended by 2,316 seafarers

Employees Ashore

Ashore, we make a concerted investment in staff training and leadership development at all levels of the organisation, which has resulted in enhanced productivity, engagement, loyalty and retention and a strong foundation for our succession planning. That investment ashore broadly takes the following forms:

• Independently-run classroom and seminar-based training
• On-the-job training, site visits and company visits
• Understudy programmes for young executives
• Social and team-building exercises promoting high-performance teamwork and a culture of high standards
• Leadership and management training and executive coaching for high-potential employees identified as future leaders
• Training in specialised management tools
• Group-wide intranet connectivity, instant messaging and web-based video supporting real time information sharing

Through the commitment we make to providing decent work, sound workplace conditions and fair employment terms, we benefit in return from strong retention of high-quality, loyal seafarers and safe operations.

Our labour standards, human rights practices and workplace conditions adhere to all conventions where our ships trade and our offices are located.

Our labour policies and minimum standards are determined with reference to the conventions of the International Labour Organization (ILO) – the United Nations agency that shapes policies to promote decent working conditions for seafarers and other workers. We are also committed to the internationally recognised provision on human rights as expressed in the UN Guiding Principles on Business and Human Rights.

These ILO conventions relating to seafarers have been consolidated into a single, coherent instrument – the Maritime Labour Convention 2006 (“MLC”) – which has been ratified by China and the requirements of which have been largely incorporated in Hong Kong flag state legislation under Hong Kong SEHK ESG Aspect B4 (Labour Standards) General Disclosure SEHK ESG KPI B4.1 Description of measures to review employment practices to avoid child and forced labour SEHK ESG KPI B4.2 Description of steps taken to eliminate child and forced labour when discovered CAP478 Merchant Shipping (Seafarers) and other ordinances. As such, the conventions are mandatory for us to follow in respect of our Hong Kong-flagged dry bulk ships.

Where ILO conventions have not been ratified by our flag state, we voluntarily comply with or exceed the requirements of such conventions by way of a Collective Bargaining Agreement (“CBA”) with the International Transport Federation (“ITF”)-affiliated seafarer unions. Pacific Basin was actively involved in drafting the current Hong Kong flag state CBA which applies to all Hong Kong employers of seafarers under the ITF.

We have also adopted the Sustainable Shipping Initiative Code of Conduct which seeks to reinforce compliance with the MLC and other relevant maritime conventions and goes beyond by focusing on valuing seafarers and the full spectrum of their human rights.

We recognise the great value of having diverse staff of different ages, cultures and backgrounds who bring to our team diverse experience, perspectives and opinions that make our business more dynamic, vibrant, innovative and successful.

We strive to create a culture of care, respect and non-discrimination and inclusion, and a workplace where all colleagues enjoy equality of opportunity, where all ideas are heard, where decisions are based on merit, and where staff are supported in their individual efforts to contribute to our business’ success.

Our shore-based team comprises executives of 33 nationalities, and the gender and age distribution of our shore-based workforce is relatively well-balanced overall. We recognise the lower representation of female colleagues in middle and senior management and on our Board of Directors. This has much to do with the significantly lower proportion of female applicants for shipping industry specific jobs, but we do try to leverage our strong employer brand to build diverse teams.

Pacific Basin was an early adopter of the Hong Kong Equal Opportunities Commission’s (“EOC”) Racial Diversity and Inclusion Charter, in support of the EOC’s mission to promote racial equality and inclusion in the workplace.

We are also investing in the development of a growing number of female seafarers on our ships. We currently have 52 female seafarers on our owned ships, including 16 officers.

Pacific Basin is a corporate member of the Women’s International Shipping & Trading Association (WISTA International), a global organisation connecting female professionals from all sectors of the maritime industry and a leader in diversity and inclusion in shipping. We invite our female seafarers and shore-based staff to take advantage of this membership to enhance their network, resources, knowledge and access to mentorship.

Our continuous diversity, equity and inclusion (“DEI”) efforts and other employee engagement initiatives have led to robust staff engagement which is evidenced by good retention and the high satisfaction score from an independent study conducted in 2022.

In the pursuit of our vision and objectives, we always seek to apply sound and internationally accepted business ethics and principles. Our business principles cover a range of tenets and traits designed to maximise the trust, respect and friendship between the Company and its stakeholders, highlighting the fairness and responsibility with which we approach our business.

Our selection and continued support of suppliers is heavily influenced by the outcome of our supplier vetting process, the quality of our suppliers’ products and their performance affecting occupational health, safety, quality and the environment. Examples of vetting criteria we require of our suppliers and subcontractors include, as appropriate:

• Certification to a recognised international standard
• Approval by regulatory authorities
• Authorised agents or original equipment manufacturers, and/or
• Membership of a reputable organisation such as International Ship Suppliers Association (“ISSA”) or the International Marine Purchasing Association (“IMPA”)