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


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


  • Pacific Basin Bulk Shipping listed on NASDAQ


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

Foundations of an industrial freight business


  • Founding management team relaunched Pacific Basin Shipping Ltd


  • Private equity investment enabled fleet growth through acquisitions and newbuildings


  • Acquired technical management operations of Jardine Ship Management


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

Accessing capital for growth


  • 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


  • New regional offices in Dalian, Tokyo and Vancouver


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

Diversification as dry bulk heats up


  • 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.


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

Refining our operational platforms


  • Share placement raised US$98 million


  • 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)


Refocusing on dry bulk


  • 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)


  • Secured Japanese Export Credit Financing of US$51 million


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


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

Strengthening our position


  • 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


  • 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


  • 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


  • 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)


  • 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


  • 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


  • Signed MoU with Nihon Shipyard Co., Ltd and Mitsui & Co. to investigate and develop design for zero-emission-capable vessels and potentially invest in related bunkering infrastructure, and later selected methanol as the preferred fuel for commercially viable zero-emission vessels
  • New regional offices in Dubai
  • Won "Shipping Company of the Year" at the Seatrade Maritime Awards and "Bulk Ship Operator of the Year" at the International Bulk Journal Awards
  • Completion of incentivised conversion offer of our US$175 million convertible bond, resulting in the conversion of approximately 60% of the aggregate principal amount with total outstanding principal amount of the convertible bonds reduced to US$70.1 million


  • Won "Bulk Ship Operator of the Year" award at the 2023 International Bulk Journal Awards, and became the only company to win the award consecutively
  • Closed a US$150 million Sustainability-Linked 3-year Senior Unsecured Committed Revolving Credit Facility

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