Our resources in action

We attach great importance to cultivating resources and relationships which we employ as optimally as we can to propel us towards our vision and to benefit our shareholders and customers

The resources and relationships we rely on How we create
or protect value
Matters of key
strategic focus
Desired
Outcomes
Our Purpose

To safely and sustainably deliver by sea the agricultural products, raw materials and other bulk commodities that are essential to people’s lives and society’s progress

Our Vision

To be a leading ship owner/operator in dry bulk shipping, and the first choice partner for customers and other stakeholders

Our Mission

To be the best in our field by continuously refining our business model, our service and our conduct in everything we do

OUR CAPITALS – THE RESOURCES AND RELATIONSHIPS WE RELY ON

PHYSICAL CAPITAL
Our Fleet – ≈240 Ships*
Vessels in operation
Handysize
Owned75
Chartered40
Total115
Supramax / Ultramax2
Owned42
Chartered82
Total124
Capesize3
Owned1
Chartered-
Total1
Total
Owned118
Chartered122
Total240
*Data as at 30 June 2022
1 Average number of short-term and index-linked vessels operated in June 2022
2 Supramax vessels in excess of 60,000 dwt are generally referred to as Ultramaxes
3 Having redelivered a chartered 95,000 dwt Post-Panamax ship, we now refer to our owned 115,000 dwt bulker as a Capesize vessel, consistent with industry definitions
HUMAN CAPITAL
  • Optimal combination of people, competencies, capabilities, experience
2,300+ Seafarers
380 Staff Ashore
Our Global Office Network

positioning us close to our customers

14 Offices
11 Chartering / Commercial Offices
SOCIAL CAPITAL AND RELATIONSHIP CAPITAL

Responsible relationships within and between our communities, stakeholder groups and other networks

  • Partner-customers
  • Suppliers
  • Regulators and policy makers
  • Local communities
  • Investors
  • Finance providers
NATURAL CAPITAL
  • The environmental resources (such as air, water, minerals and energy) that enable us to conduct our business
INTELLECTUAL CAPITAL
  • Accumulation of knowledge and development of systems, processes and procedures, through experience and a culture of education and continuous improvement
FINANCIAL CAPITAL

The pool of funds that is:

  • Generated through operations and obtained through debt, convertible bonds and equity
  • Managed as cash, lending facilities and other resources controlled by the Group

HOW WE CREATE OR PROTECT VALUE

Physical Capital
High-quality Ships

Expansion and renewal of our fleet through investment in ships of the best design and build quality

Scale and Interchangeability

Fleet scale provides network and economic advantages

In-house Technical Operations

Integrated team of technical services and crewing managers taking care of our vessels and our seafarers

Human Capital
Team Productivity

Investment in crew and staff training and wellbeing

Being Local

Regional offices across six continents position us near our customers

Being Global

Worldwide network of offices and trade routes facilitates comprehensive market Intelligence and global solutions for customers

Social Capital & Relationship Capital
Stakeholder Engagement & Wellbeing

Regular multi-level engagement and responsible operating practices to broaden and deepen our relationships with stakeholders and enhance their wellbeing through good corporate social responsibility

Natural Capital
Environmental Responsibility

Observing or exceeding regulatory requirements and industry standards on environmental impact

Intellectual Capital
Effective Business Model & Systems

Home-grown value-accretive business model, systems, procedures, know-how, efficiency focus, cost-consciousness and intangibles

Financial Capital
Considered Treasury Activity

Continuous management of financial resources and funding

MATTERS OF KEY STRATEGIC FOCUS

Physical Capital
Investing in Our Fleet
  • We already operate the largest Handysize fleet, and will carefully consider further opportunities to acquire quality Handysize and Supramax vessels which easily fit into our operating model and further improve our scale and ability to optimise our performance
  • We are increasing the proportion of owned ships in our fleet to reduce our average daily vessel costs, and facilitate greater control
  • Our technical team strives to ensure safety and maximise availability so our ships are always operationally ready
Human Capital
Investing in Our People

We strive to develop and motivate our teams to enhance safety, productivity, customer satisfaction and job fulfilment

Deepening Our Relationships

We are increasing customer engagement by connecting with a larger number of customers at a local level to enhance our relationships and increase our access to cargoes

Social Capital & Relationship Capital
Safeguarding health & safety

Eliminating injury, navigation and pollution incidents through training

Evolving management & governance practices

Refining management decision-making, risk mitigation and board governance procedures and considerations

Natural Capital
Safeguarding the Environment

We minimise our environmental impact through continual training and environmentally efficient practices and technologies

Intellectual Capital
Maximising Efficiencies and Controlling Costs

We know how to optimally match our large fleet and cargo systems to maximise utilisation, availability and punctuality, and we leverage our scale and other efficiencies to control our vessel opex and G&A costs

Financial Capital
Enhancing Corporate and Financial Profile

We continue to work within our financial gearing targets, maintain the Group’s financial health, and strive for best-in-class reporting, transparency and corporate stewardship

Desired Outcomes

Physical Capital

Optimal operational ship design and efficiency

Increased economies of scale and vessel utilisation

Optimal scheduling and flexibility for customers

Enhanced technical and service reliability for customers

Enhanced health and safety, quality and cost control

Human Capital

Safeguarding and enhancing quality, effectiveness and availability of our teams of staff on shore and at sea

Meaningful customer partnerships and better understanding of and response to customer needs

Access to comprehensive market intelligence and cargo opportunities

Optimal trading (cargo combinations) and positioning of our fleet

Social Capital & Relationship Capital

Builds understanding, trust and support between Pacific Basin and our staff, customers, tonnage providers, suppliers, investors, financiers, communities and other stakeholders

Natural Capital

Sector-leading efforts to minimise consumption of natural resources and impact on the environment

Intellectual Capital

Sector-leading service delivery

Maximising vessel earnings, minimising costs without impacting safety, and generating consistently respectable financial performance through the cycle

Strong brand and reputation

Financial Capital

Sound financial liquidity to fund investments and meet payment obligations and covenants

Optimal balance of financial capital sources benefits shareholders and enhances returns

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