Search results for: Pacific Basin

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  • 17 May 2019
    Business & Finance

    Pacific Basin closed a new USD 115 million credit facility, secured over 10 of the company’s owned ships.

  • 27 November 2015
    Business & Finance

    Hong Kong-seated bulk shipping company Pacific Basin Shipping Limited has issued a profit warning as the company expects a net loss in the range of USD 5 to 20 million for the full year ending 31 December 2015. This company recorded a USD 285 million net loss in the year that ended 31 December 2014. The net […]

  • 22 November 2018
    Business & Finance

    Pacific Basin Shipping closes a USD 40 million 7-year term loan facility with Danish Ship Finance.

  • 3 July 2020
    Business & Finance

    Hong Kong-based dry bulk shipping company Pacific Basin revealed a one-off non-cash impairment charge of $198 million on the group’s Handysize core fleet. The impairment charge relates to primarily its smaller and older Handysize vessels and will be reflected in its unaudited consolidated results for the first half of 2020. Including this impairment, Pacific Basin expected […]

  • 24 October 2016
    Business & Finance

    Pacific Basin Chartering Limited, a subsidiary of Hong Kong-listed dry bulk shipping company Pacific Basin Shipping, has entered into agreements to issue new shares in the company in exchange for charter rate reductions for ten chartered-in Handysize and Supramax bulkers. Namely, the company entered into ten separate addenda, all dated October 21, to existing long-term time-charter contracts […]

  • 25 June 2018
    Business & Finance

    Pacific Basin closed a USD 325 million 7-year reducing revolving credit facility secured over 50 of its ships.

  • 12 April 2019
    Business & Finance

    Pacific Basin is to expand its fleet with a further 3 secondhand Supramax vessels.

  • 14 May 2018
    Business & Finance

    Pacific Basin decides to acquire for dry bulk vessels with 50% equity funding.

  • 7 April 2020
    Business developments & projects

    Hong Kong-based dry bulk shipping company Pacific Basin will pause its fleet expansion plans amid the ongoing market uncertainty caused by the coronavirus pandemic.  Pacific Basin was very vocal about its fleet growth plans and was eager to pursue Japanese-built second-hand bulkers, Suezmaxes in particular, staying clear of contracting newbuilds. However, logistics disruptions across the […]

  • 1 March 2018
    Business & Finance

    An improvement in dry bulk market conditions pushed Pacific Basin into the black during 2017.

  • 11 October 2018
    Business & Finance

    Pacific Basin Shipping Limited saw a significant hike in vessel earnings in the third quarter of the year.

  • 27 February 2020

    Pacific Basin is keen on enlarging its fleet, but is staying clear from ordering newbuilds.

  • 30 July 2018
    Business & Finance

    Pacific Basin has returned to the black in the first half of 2018 thanks to the recovery of the dry bulk market.

  • 16 May 2019
    Business & Finance

    Pacific Basin signs a service agreement with MAN Energy Solutions for 111 bulkers.

  • 5 August 2019
    Business & Finance, Rules & Regulation

    The equipment is expected to set Pacific Basin up “for what we believe will be stronger years ahead.”

  • 14 January 2015
    Business & Finance

    Hong Kong-listed dry bulk carrier Pacific Basin Shipping Limited has issued a profit warning saying it expects to record a significant non-cash provision of over USD 130 million in its consolidated 2014 results. These relate to approximately USD 101 million for inward chartered vessel contracts and USD 31 million relating to the fair value change […]

  • 18 November 2014
    Business & Finance

    Pacific Basin Shipping’s wholly owned subsidiary PB Sea-Tow Holdings (BVI) Limited has sold its 50% share in Offshore Marine Services Alliance JV (OMSA) to Skilled Offshore (Australia) Pty Ltd, the other shareholder of OMSA, for AUD 12 million (USD 10.5m). Following completion, PB Sea-Tow will no longer hold any of the issued share capital of OMSA. […]

  • 18 September 2019
    Business & Finance

    The secondhand purchase would be 33% funded by new Pacific Basin shares to be issued to the ships’ sellers.

  • 14 January 2019
    Business & Finance

    Pacific Basin has held a naming and delivery ceremony for Iwagi Island, a Handysize bulker.

  • 7 April 2017
    Business & Finance

    Hong Kong-based dry bulk shipping company Pacific Basin Shipping is reaping the fruits of the recovery of market fundamentals in the dry bulk sector which pushed up time charter equivalent (TCE) earnings in the first quarter of 2017. This has been a result of improved market condition after seasonal dip around the Chinese New Year, […]

  • 3 August 2017
    Business & Finance

    Dry bulk shipping company Pacific Basin Shipping Limited has inked a conditional agreement to acquire five dry bulk vessels worth USD 104.6 million availing of the attractive secondhand prices on the market. The acquisitions relate to two 2014-built Supramaxes worth USD 34 million, a 2014-built Handysize worth USD 21.1 million, a 2016-built Supramax worth USD […]

  • 29 July 2016
    Business & Finance

    Due to extraordinarily weak dry bulk market conditions seen in the first half of 2016, the Hong Kong-listed dry bulk shipping company Pacific Basin Shipping reported a net loss of USD 60.4 million, against a net loss of USD 15.4 million seen a year earlier, despite its strong TCE earnings premium. “While we were loss-making over this challenging […]