Research
Clarksons Securities Starts Pacific Basin Shipping at Buy with HK$3.65 Price Target
Pacific Basin Shipping (HKG:2343) has an average rating of overweight and mean price target of HK$3.56, according to analysts polled by FactSet.
HKG:2343
HKG:2343
5 stories mentioning HKG:2343Updated 86d ago
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Asia
Pacific Basin Shipping Grants 21 Million Share Awards Under Employee Incentive Scheme
Pacific Basin Shipping (HKG:2343) granted 21 million share awards under its 2025 share award scheme, according to a Monday Hong Kong bourse filing.Shares of the dry bulk vessel owner and operator gained over 1% in late-morning trade on Tuesday.The awarded shares represent about 0.4% of the company's issued share capital.The grants include awards to the chief executive officer, the chief financial officer, and other employees.Part of the awards are subject to performance targets tied to financial goals approved by the board, with vesting scheduled for July 2029.
HKG:2343
Research
HSBC Upgrades Pacific Basin Shipping to Hold from Reduce; Price Target is HK$3.20
Pacific Basin Shipping (HKG:2343) has an average rating of overweight and mean price target of HK$3.48, according to analysts polled by FactSet.
HKG:2343
Asia
Pacific Basin Shipping Enters Agreements to Buy New Ships
Pacific Basin Shipping (HKG:2343) said it entered agreements to buy two Handysize newbuilding vessels for around $59.6 million, according to a Hong Kong bourse filing Thursday.Shares of the dry bulk vessel owner and operator gained over 6% in late morning trade Friday.The firm will fund the acquisitions via its cash reserves and by way of bank borrowings. The vessels are estimated for delivery in the second half of 2028.The ships will be delivered by Jiangmen Nanyang Ship Engineering, which was previously contracted to supply four other vessels for $119.2 million in the first half of 2028.Meanwhile, in separate statements, the firm said it terminated the purchase of four separate dual-fuel methanol Ultramax vessels. The company was acquiring the ships in two separate batches priced at $93 million each.Instead, the Pacific Basin Shipping will now acquire four conventional Ultramax vessels in two separate batches priced at $78.4 million each and scheduled for delivery by December 2028 and the first half of 2029, respectively.The company also has the option to acquire two additional dual fuel methanol Ultramax vessels for $45.5 million each which could be delivered by April 2030 and March 2031.
HKG:2343
Asia
Pacific Basin Shipping Unit to Acquire Two Vessels
Two units of Pacific Basin Shipping (HKG:2343) agreed to acquire two Handysize newbuilding vessels from Jiangmen Nanyang Ship Engineering for around $59.6 million, according to a Thursday filing with the Hong Kong bourse.The vessels, comprising Open hatch Handysize log bulk vessels with an approximate deadweight capacity of 40,000 deadweight tons, are expected to be delivered in the second half of 2028.
HKG:2343
