Who we are
- Q1. Who is Pacific Basin?
- Pacific Basin Shipping Limited (www.pacificbasin.com) is one of the world's leading owners and operators of modern Handysize and Supramax dry bulk vessels. Our dry bulk fleet vessels directly servicing blue chip industrial customers. Pacific Basin is listed and headquartered in Hong Kong, and provide a quality service to over 400 customers with approximately 3,000 seafarers and 330 shore-based staff in 12 offices in key locations around the world.
- Q2. What is the history of the Company?
- Several of our key directors and executives operated a company with the name Pacific Basin from 1987 to 1996, when it was privatized by an independent third party. Former executives and employees subsequently established a new company in 1998, again using the Pacific Basin name, which has grown into the Pacific Basin we know today. The Company was listed on the main board of the Hong Kong Stock Exchange on 14 July 2004. For more details, please refer to History section.
- Q3. How many employees and offices does the Company have?
- The company currently employs approximately 330 onshore staff in 12 offices worldwide.
- Q4. Who is the management of Pacific Basin?
- Please refer to Board and Management section.
- Q5. Where can I find the remuneration information of the Board of Directors and the senior management?
- The Remuneration Report sets out the Group’s remuneration policies and amounts for all staff including Executive Directors, Non-executive Directors and senior management. Please refer to the Remuneration Report in our Annual Report for details.
What we do
- Q1. What do we do in the dry bulk business?
- Through our large fleet of modern, shallow-draft and crane-fitted Handysize and Supramax bulk carriers, we transports a broad range of bulk commodities and break-bulk cargoes to both major and less accessible ports around the world.
- Q2. How do we operate in the dry bulk business?
- Pacific Basin has a reputation as a leading supplier of industrial freight services globally through a largely fleet of owned and chartered ships which we operate in-house. Our customers include the biggest names in mining, forestry products, agriculture and the trading of minerals, metals and commodities.
- Q3. What are Handysize and Supramax vessels?
- Handysize and Supramax bulk carriers are highly versatile ocean-going ships
1. Handysize and Supramax ships can respectively carry 25,000-40,000 and 40,000-65,000 metric tonnes of cargo
2. Five cargo holds – each has the volume of up to 6 Olympic swimming pools Our ships’ size and equipment are well suited to carrying a broad range of commodities – mainly in bulk but also in bagged or bundled form – such as grain, fertiliser, steel and logs
3. Four cranes with 30 ton lifting capacity – that’s enough to lift 30 compact cars Cranes enable self-loading and discharging in regions lacking sophisticated cargo handling infrastructure such as the ecologically sensitive logging rivers of the Pacific North West and ill-equipped ports in parts of the developing world
4. Our ships are 170-190 metres long and 27-32 metres wide – that’s the area of more than 15 tennis courts Their relatively "handy" proportions allow them access to many ports around the world including those restricted by shallow water, locks, narrow channels and tight river bends
5. While still large ships, their hulls only requires a depth of 10-12 metres when fully loaded
- Q4. What cargoes we carry on our dry bulk vessels?
- We transport a highly diversified mix of dry bulk cargoes that are sourced from a variety of industrial commodity producers and end-users around the world. Please refer to Customers – Cargoes & Trade Routes section for more details
- Q5. Who are our customers?
- Our customer-focused business model facilitates strong relationships with over 400 industrial commodity producers and end-users all over the world. They include the biggest names in mining, forestry products, agriculture and the trading of minerals, metals and other commodities.
- Q6. Where are our offices located?
- Pacific Basin has a global presence with headquarters in Hong Kong and offices in Dalian, Tokyo, Dubai, London, Durban, Vancouver, Auckland, Melbourne, Manila, Stamford and Santiago. Please refer to Customers – Our Global Network for details.
- Q7. How many people in the crew of each ship?
- We typically employ 20-24 crew members on each of our dry bulk ships ranging from the Master and Chief Engineer to Ordinary Seamen, officer cadets and trainee ratings. “22 Crew, 22 Owners” is a home-grown concept through which we empower and motivate our crew to manage our vessels with a pro-active safety culture, acting to mitigate risk in every task on board.
- Q8. What are the BDI / BSI / BHSI?
- Please refer to Investors – Industry Information section.
- Q9. What is the difference between dry bulk shipping, container shipping and tankers?
- Dry bulk ships, container ships and tankers are very different vessels that carry different cargoes in different forms while running usually quite different business models. Typically dry bulk ships carry major and minor bulk commodities and raw materials (such as coal, iron ore, other mineral ores, grains, dry fertilisers, etc.) while container ships carry containerised manufactured products and tankers carry oil and gas.
- Q10. How is Pacific Basin committed to the corporate social responsibility?
- We recognise that our leadership position in our industry and our ambition come with responsibility in a number of areas. In this vein, we are committed to maintaining high standards of corporate social responsibility through our pursuit of excellence in the areas of Environment, Workplace and Community.
In summary, our commitment takes the following forms:
Understand and minimizing our impact on the environment through adoption of energy-efficient and environmentally-friendly ship designs, technologies and practices at sea and ashore
Looking after our people by ensuring their safety, fostering a happy and fulfilling workplace, and nurturing our talent and harnessing their performance potential
Ensuring our responsible behavior in the communities in which we are present, from our engagement in the shipping industry, to anti-corruption in the business world, to positive contributions to worthy causes closest to our business
Please refer to Sustainability – Corporate Social Responsibility section for more details.
- Q1. What is the shareholding structure of the Company?
- A: Approximately 98% of our issued share capital is held by the public. Around 50% of our outstanding shares are held by institutional investors who are mainly based in Asia, Europe and North America.
- Q2. What are Pacific Basin’s stock code/ ticker symbols?
- Equity Stock Code
The Stock Exchange of Hong Kong - 2343
Bloomberg - 2343 HK
Reuters - 2343.HK
Convertible Bonds Due 2016
The Stock Exchange of Hong Kong - 4319
Bloomberg - EI1785019
ISIN - XS0493723968
Convertible Bonds Due 2018
The Stock Exchange of Hong Kong – 4573
Bloomberg - EJ3743543
ISIN – XS0834718594
Convertible Bonds Due 2021
The Stock Exchange of Hong Kong – 5525
Bloomberg - EK8490683
ISIN – XS1218192877
- Q3. How does the Company maintain its relationship with investors and shareholders?
- Our Corporate Communication Policy is is committed to ensuring both individual and institutional shareholders (“Shareholders”) are informed of relevant information of the Company on a regular basis in order to enable Shareholders to timely evaluate the performance and prospects of the Company; exercise their rights in an informed manner; and allow Shareholders and the investment community to engage actively with the Company.
The Company values the communication with Shareholders and believes that this can help to augment the public’s understanding of the Company, increase recognition of our development and ultimately enhance shareholder value.
Detailed information is provided in annual and interim reports, which are supplemented by regular voluntary trading activities updates. The Company also schedules roadshows, telephone conferences, video webcasts and frequent investor presentations delivered internationally.
Shareholders are encouraged to maintain direct communication with the Company and any questions maybe directed to the Investor Relations department:
Tel: +852 2233 7000
Please click here to review our Corporate Communication Policy.
- Q4. What is the dividend policy of the Company?
- Our dividend policy is to pay out a minimum of 50% of profits attributable to shareholders (excluding vessel disposal gains).
- Q5. Where can I find information on past Pacific Basin dividends?
- Please refer to Investors – Share Information – Dividend History section.
- Q6. What is Convertible Bond?
- It is a type of bond that the holder can convert into shares of common stock in the issuing company or cash of equal value, at an agreed-upon price.
- Q7. Which sell-side analysts cover Pacific Basin?
- Please refer to Investors – Share Information – Research Coverage section.
- Q8. How can I get the reports from those sell-side analysts that covered Pacific Basin?
- You can contact those sell-side analysts to get the reports that covered Pacific Basin. You can refer to Investors – Share Information – Research Coverage section for the relevant contacts.
- Q9. When are your next financial results announced?
- Please refer to Investors – Corporate Calendar section.
- Q10. Do you report quarterly results?
- We will announce our Annual and Interim Results as well as first and third quarter voluntary trading update. Please see Investors – News & Circulars section for the results announcement.
- Q11. Where can I find the webcast and transcript of the results announcement?
- The webcast and transcript are available in the Investors – Financial Disclosures – Presentations, Webcasts & Calls section.
- Q12. How can I contact the investor relations team?
- Please send your questions and comments to email@example.com or call us at 852-2233 7000 and we will respond to your enquiry as soon as possible.
- Q13. How can I keep up to date with Pacific Basin news?
- You can subscribe our Email Alert, as well as follow us on social media channels including Facebook, Twitter, Linkedin and WeChat. You can find more information in the Investors – Contact Points for Investors section and Media – Social Media section for details.
Annual General Meeting and Shareholders' questions
- Q1. What is an Annual General Meeting (AGM)?
- An Annual General Meeting is a meeting of the members held annually by the Company at which every registered holder of the Company is entitled to attend and vote.
- Q2. When is the date for the next AGM?
- Please refer to the Investors – Corporate Calendar section for details.
- Q3. Why would the Board need a general mandate to issue shares?
- It is usual practice for the Company to seek for a general mandate to issue shares at each AGM since the grant of which will give flexibility for the Company to raise additional capital in the forthcoming year (without having to seek for shareholders’ approval by convening a general meeting) in case of need for its business plan, such as acquisition of additional vessels etc.
- Q4. Why would the Board need a mandate to repurchase shares of the Company?
- It is usual practice for the Company to seek for a general mandate to repurchase shares at each AGM though the Directors may not have any intention to repurchase any shares at the time of the AGM and they would exercise the power to repurchase in circumstances only where they consider that the repurchase would be in the best interests of the Company and the Shareholders as a whole and in circumstances where they consider that the shares can be repurchased on terms favourable to the Company.
- Q5. Who is Pacific Basin’s share registrar?
- The Branch Share Registrar of the Company in Hong Kong is Computershare Hong Kong Investor Services Limited.
Tel: +852 2862 8555
Fax: +852 2865 0990
- Q6. How can I change the address?
- By completing and returning the amendment form to Computershare Hong Kong Investor Services Limited for their handling.
Tel: +852 2862 8555
Fax: +852 2865 0990
- Q7. What should I do if I cannot receive the dividend?
- You may contact your brokers/bankers if your shares are held through them. Alternatively if your shares are in physical form of share certificates, i.e. you are registered shareholder of the Company, you may contact Computershare Hong Kong Investor Services directly and ask for their assistance, which may due to incorrect or outdated bank accounts details or correspondence address held by the Branch Share Registrar.
Computershare HK Investor Services Limited:
Tel: +852 2862 8555
Fax: +852 2865 0990