Our history

Founded in Hong Kong in 1987, Pacific Basin is a specialist Handysize and Supramax bulk carrier owner and operator, and we are proud of our world-leading expertise, track record and reputation.

The first decade

1987

  • Pacific Basin founded in Hong Kong as a specialist Handysize bulk carrier owner/operator

1994

  • Pacific Basin Bulk Shipping listed on NASDAQ

1996

  • Pacific Basin and its more than 30 ships were purchased and privatised by a third party

Foundations of an industrial freight business

1998

  • Founding management team relaunched Pacific Basin Shipping Ltd

1999

  • Private equity investment enabled fleet growth through acquisitions and newbuildings

2000

  • Acquired technical management operations of Jardine Ship Management

2001

  • Established International Handybulk Carriers Handysize pool (later consolidated into Pacific Basin's owned fleet)

Accessing capital for growth

2004

  • Company reorganised into today's corporate structure in preparation for IPO
  • Listed on Hong Kong Stock Exchange on 14 July raising US$72 million
  • Prior to IPO, Pacific Basin dry bulk fleet comprised 19 owned, 7 chartered and 16 managed ships
  • Regional offices established in London and Melbourne

2005

  • New regional offices in Dalian, Tokyo and Vancouver

2006

  • Share placement raised US$157 million
  • New regional offices in Beijing and Dubai

Diversification as dry bulk heats up

2007

  • New regional offices in Auckland and Santiago
  • Pacific Basin became a constituent of MSCI World Index
  • US$390 million raised through convertible bond issue
  • Pacific Basin commenced diversification into cargo terminal operation and harbour towage (2007), offshore towage and Roll-on Roll-off (RoRo) ships (2008) which were later sold as part of the company's 2012 initiative to refocus on its cornerstone dry bulk activity.

2008

  • Fleet emission reduction targets established surpassing existing regulatory requirements
  • US$275 million raised in share placement

Refining our operational platforms

2009

  • Share placement raised US$98 million

2010

  • Acquired 10 dry bulk newbuildings, expanding our owned, operated and newbuild fleet to 180 vessels
  • Convertible bond issue raised US$230 million (stock code: 4319)

2011

Refocusing on dry bulk

2012

  • Commenced exit from RoRo, towage and other non-core businesses to focus on cornerstone dry bulk activity
  • Convertible bond issue raised US$124 million (stock code: 4573)

2013

  • Secured Japanese Export Credit Financing of US$51 million

2014

  • Awarded BIMCO Shipping Company of the Year
  • US$350 million raised through Japan Export Credit financing for 18 bulk carriers

2015

  • US$125 million raised through convertible bond issue (stock code: 5525)

Strengthening our position

2016

  • US$143 million raised through rights issue
  • Share issue arrangement with 10 shipowners saves us US$12.6 million in charter-hire cash outflows over 2 years

2017

  • New regional office in Rio de Janeiro, Brazil
  • Acquired five dry bulk vessels funded mainly by shares issued to the ships' sellers and cash raised through new share placement
  • Awarded Lloyd's List Global Awards' Shipping Company of the Year

2018

  • Acquired 7 modern vessels including 4 funded 50% by issuing shares
  • Closed US$365 million revolving credit and term loan facilities
  • Resumed dividend payments
  • Dry Bulk Operator of the Year – Lloyd’s List Global Awards

Well Positioned for the Future

2019

  • Revolving credit facility of US$115m
  • Acquired four modern ships approximately 33% funded by new shares issued to ship sellers
  • US$175 million raised through convertible bond issue (stock code: 40097)

2020

  • Joined Getting to Zero Coalition to explore a roll-out of deep-sea zero-emission ships by 2030
  • Our seafarers are our heroes at sea, enduring the Covid-19 crew change crisis
  • We have engaged with and urged governments and authorities for solutions to enable safe rotation and repatriation of seafarers

2021

  • Signed the Neptune Declaration on Seafarer Wellbeing and Crew Change which defines actions to facilitate crew changes and keep global supply chains functioning
  • Opened new crewing office in Iloilo City in the Philippines
  • Signed the Call to Action for Shipping Decarbonisation
  • Launched PB Carbon Neutral Voyage Programme
  • Grew our owned fleet adding 11 modern second-hand ships and selling five of our smallest and oldest Handysize vessels