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Pacific Basin employees can work from home during Hong Kong unrest

The unrest in Hong Kong can sometimes make it difficult for Pacific Basin employees to commute to and from work. Therefore employees are allowed to either work from home or leave early in order to avoid running into the protests, informs the shipping company, which has, however, overall seen a "minimal impact" on operations.

Pacific Basin's profit in significant setback

Dry bulk shipping company Pacific Basin saw its profit slide by more than 70 percent in the first half of the year compared to the same period the year before. But TCE rates ensure that the bottom line remains positive, writes the company in its interim report. Updated.

Pacific Basin is looking to grow its fleet

Hong Kong-based Pacific Basin has tripled its owned fleet in seven years, and the company wants to do more acquisitions of second-hand ships, CEO Mats Berglund tells ShippingWatch.

Mats Berglund: Dry bulk can withstand even lower economic growth

The dry bulk shipping companies can look forward to stronger half-year results if the profit from Pacific Basin is a marker for the industry overall. Even a lower GNP growth does not faze the Hong Kong-based shipping company's CEO Mats Berglund. ShippingWatch has interviewed the CEO.

Pacific Basin buys four new ships

Dry bulk carrier Pacific Basin has purchased four ships from various sellers and will issue new stock as part of the transaction. The time is right to buy ships, says the company.

Pacific Basin eyes threats on the horizon despite profit

The dry bulk market is now back on track and has boosted the results at one of the biggest players in the market, Pacific Basin, which delivered its first profit in five years in 2017. But there are several threats looming over the currently strong dry bulk market.

Pacific Basin looking at new asset acquisition opportunities

Among the dry bulk carriers, Pacific Basin is one of the few players so confident in the market that it has performed a significant fleet expansion. And more could be underway. ShippingWatch has interviewed CEO Mats Berglund about where the optimism comes from.

Pacific Basin hires CFO from BW Pacific

Pacific Basin has hired a new CFO who is joining the company from tanker carrier BW Pacific. He has a background in the finance sector and will start in his new position in August when the current CFO steps down.

Pacific Basin CEO hopes for higher bunker prices

A higher bunker price would make ships sail slower. This could help reduce overcapacity in the dry bulk market, Pacific Basin CEO Mats Berglund tells ShippingWatch. He therefore hopes for a higher oil price in 2017.

Pacific Basin tripled its deficit in 2016

The deficit grew in 2016 for Hong Kong-based dry bulk carrier Pacific Basin, which took a hit from all-time low rates. The carrier has raised fresh capital to pad itself for a 2017 which also looks set to be difficult.

Pacific Basin CFO will step down in 2017

Hong Kong-based dry bulk carrier Pacific Basin will be hiring a new CFO before the end of 2017. Andrew Broomhead, who currently services as chief financial officer, has announced his departure.

Pacific Basin swaps shares for lower charter rates

Dry bulk carrier Pacific Basin has issued new shares to a series of shipowners in return for lower charter rates over the next two years. The new charter deals could strengthen the company's balance in the dire dry bulk market, notes Fearnleys.

Strong harvest boosts Pacific Basin in third quarter

The bulk market has significantly improved this year since the rock-bottom rates in the first quarter, writes Pacific Basin in a market update. The Hong Kong-based bulk player beats the market in the third quarter, but is struggling to sell its tugs.

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