Company Profile For Pacific Basin Shipping Limited

Pacific Basin Shipping Limited and its subsidiaries are engaged in the provision of dry bulk shipping services, which are carried out internationally, through the operation of a fleet of vessels. The Company operates in three maritime segments: dry bulk, tug and barge, and roll on roll off shipping. On March 18, 2008, the Company acquired 90.1% of PB Maritime Services Holdings Limited and its subsidiaries. On December 19, 2008, the Company acquired an additional 9.9% of PBMS Group. On December 31, 2008, the Company disposed its equity interests in PBHL Group and certain subsidiaries of the PBMS Group. The Company’s subsidiaries include PB Management Holding Limited, PB Vessels Holding Limited, PB Issuer Limited, AMS Salvage and Towage Pty. Limited, Asia Pacific Capital Developments Limited, Asia Pacific Fortune (HK) Limited, Bernard (BVI) Limited, Bright Cove Limited and Bulk Ventures Limited.

BRIEF: For the six months ended 30 June 2009, Pacific Basin Shipping Limited's revenue decreased 53% to $425.9M. Net income decreased 78% to $74.8M. Revenues reflect a decrease in sales from Freight & Charter-hire services and lower sales for Maritime Management services. Net income also reflects an increase in other expenses, increased finance costs and a presence of loss on disposal of property, plant & equipment v/s an income.

Pacific Basin Shipping Limited
7/F Hutchison Hse.
10 Harcourt Road
Central
   
P: +8522233.7000
F: +8522865.2810

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