Pacific Basin Shipping Limited (OTCPK:PCFBF) Q3 2024 Trading Update Conference Call October 17, 2024 6:00 AM ET Company Participants Martin Fruergaard - CEO Conference Call Participants Parash Jain - HSBC Operator Welcome to today's Pacific Basin 2024 Third Quarter Trade Trading Update Conference Call. I am pleased to present Chief Executive Officer, Martin Fruergaard for the first part of the call. All participants will be in listenonly mode and afterwards there will be a question-and-answer session. Mr. F ...

LEADING THE WAY IN DRY BULK SHIPPING Pacific Basin 3Q24 TRADING UPDATE 17 OCTOBER 2024 PERFORMANCE AND MARKET REVIEW LIMITED SEASONALITY CONTINUES - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 Handysize Market Spot Rates (BHSI) 38k dwt (tonnage adjusted^) US$/day net* $11,360 FFA Average* $11,390 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 Supramax Market Spot Rates (BSI) 58k dwt US$/day net* $13,040 FFA Average* $13,300 Jan Feb Mar Apr May Jun Jul A ...

Financial Data and Key Metrics Changes - In the first half of 2024, the company generated an underlying profit of USD 44 million and a net profit of USD 58 million, with an EBITDA of USD 158 million, resulting in a 6% annualized return on equity and basic earnings per share of HKD 8.7 [2][3] - The company maintained a healthy financial position with USD 537 million in committed liquidity and net borrowings of just USD 32 million [3][13] - The interim dividend declared was HKD 4.1 per share, amounting to USD 28 million, representing 50% of the net profit for the period, excluding vessel disposal gains [3] Business Line Data and Key Metrics Changes - The large core business generated USD 77 million before overheads, with Handysize vessels contributing 41% and Supramax vessels contributing USD 36 million [2] - Operating activities saw significant growth, with an increase in vessel numbers and operating days, contributing an additional USD 8 million for the business [3][9] - The average market spot freight rates for the Baltic Exchange Handysize Index and the Baltic Exchange Supramax Index were USD 10,970 and USD 13,280 net per day, respectively [5] Market Data and Key Metrics Changes - Global dry bulk loading volumes grew approximately 2% year-on-year, with minor bulk loading volumes also up by 2% [17] - Grain loadings increased by 4%, driven by significant contributions from Argentina, Ukraine, and Brazil, with Argentina experiencing a 29% increase in grain loadings [17][18] - The company observed a nearly 13% decline in new building orders for Handysize and Supramax vessels, attributed to rising new building costs and uncertainties surrounding environmental regulations [21] Company Strategy and Development Direction - The company aims to optimize its capital structure, invest in value-adding and countercyclical growth opportunities, and distribute profits to shareholders in accordance with its distribution policy [4] - The long-term strategy focuses on expanding and renewing the fleet, particularly growing the Supramax and Ultramax fleet while replacing older Handysize vessels with younger, larger, and more efficient ships [21][24] - The company is committed to decarbonization and is collaborating with Japanese partners to design dual-fuel low-emission vessels [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the supportive fundamentals of the industry and the overall global economic outlook, despite challenges such as high interest rates and geopolitical conflicts [26] - The company anticipates an increase in global dry bulk loadings and tonnage demand due to limited transit of dry bulk vessels to the Suez and Panama Canals [27] - Management noted that the disruptions in the Suez and Panama Canals have created fleet inefficiencies, impacting market dynamics positively [5][20] Other Important Information - The company has launched a share buyback program of up to USD 40 million, with approximately 42.7 million shares repurchased and canceled for about USD 14.6 million [4][15] - The cash position remains unchanged at USD 261 million, with operating cash inflow for the period at USD 103 million [13][14] - The company has maintained optionality in its long-term charter portfolio with purchase and extension options [16] Q&A Session Summary Question: Specific commodity types expected to see increased demand in the second half of 2024 - Management indicated that the grain season from the Northern Hemisphere, particularly from the U.S. and Europe, is expected to drive increased activity starting in October [29] Question: Environmental regulations and scrapping timeline - Management explained that scrapping of older ships is expected to pick up closer to 2030 due to market conditions and environmental regulations, with no significant incentive to scrap as long as older ships remain profitable [30][31] Question: Plans for dual-fuel ships - Management stated that while there is room for various fuels, methanol is currently seen as the best option for their smaller ships due to cost considerations [34] Question: Supply growth versus demand growth for Handysize vessels - Management expressed optimism about demand outlook, indicating that while there are uncertainties, the overall demand picture remains positive [39][40] Question: Share buyback acceleration - Management confirmed that they will not accelerate the share buyback program but will continue with the existing plan [42] Question: Current NAV compared to share price - Management disclosed that the fair market value of their assets is USD 2.4 billion, indicating a significant difference from the book value, which supports the rationale for the share buyback [43][44] Question: Short-term charter costs and strategy changes - Management acknowledged elevated short-term charter costs due to market disruptions and indicated a potential adjustment in covering strategy to maintain flexibility [46][52]

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Pacific Basin Shipping Limited (OTCPK:PCFBF) Q1 2024 Trading Update Conference Call April 18, 2024 6:00 AM ET Company Participants Martin Fruergaard - Chief Executive Officer Michael Jorgensen - Chief Financial Officer Conference Call Participants Parash Jain - HSBC Nathan Gee - Bank of America Andrew Lee - Jefferies Operator Welcome to today’s Pacific Basin 2024 First Quarter Trading Update Conference Call. I’m pleased to present Chief Executive Officer, Mr. Martin Fruergaard; and Chief Financial Officer, ...

LEADING THE WAY IN DRY BULK SHIPPING E Pacific Basin IPSWICH BA 1024 TRADING UPDATE 18 APRIL 2024 PERFORMANCE AND MARKET REVIEW US$40 MILLION SHARE BUYBACK PROGRAMME ▪ Current share price of the Company is believed to be below its intrinsic value ▪ Launch of share buyback programme of up to US$40 million ▪ Any shares bought back by the Company will be cancelled ▪ Share buyback will be from 25 April to 31 December 2024 (both days inclusive) ▪ Expected to enhance our earnings per share, net asset value per sh ...

Pacific Basin Shipping Limited (OTCPK:PCFBF) Q4 2023 Earnings Conference Call February 29, 2024 5:00 AM ET Company Participants Martin Fruergaard - Chief Executive Officer Michael Jorgensen - Chief Financial Officer Peter Budd - Investor Relations Conference Call Participants Andrew Lee - Jefferies Parash Jain - HSBC Nathan Gee - Bank of America Operator Welcome to today's Pacific Basin 2023 Annual Results Announcement Conference Call. I'm pleased to present Chief Executive Officer, Mr. Martin Fruergaard, a ...

i Pacific Basin WELL POSITIONED FOR THE FUTURE ISABELA ISLAND INTERIM RESULTS 2023 31 JULY 2023 | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | PERFORMANCE | | | | | | | 2023 INTERIM FINANCIAL RESULTS Balance Sheet US$million 2023 1H 2022 Available liquidity 375.1 615.0 Net (borrowings)/cash (128.1) 65.3 Returns 2023 1H 2022 1H Return on equity (annualised) 9% ...