Net profit of US$465.1 million, our best interim results ever
Basic EPS of HK74.5 cents
48% return on equity
A significantly strengthened balance sheet with net cash of US$68.9 million
Interim basic dividend of HK35 cents per share and a special dividend of HK17 cents per share - total HK52 cents per share, equal to US$348.0 million or 75% of net profit
US$million
2022 1H
2021 1H
EBITDA
566.9
244.6
Underlying profit
457.5
150.4
Net profit
465.1
160.1
US$million
2022 1H
2021
Available liquidity
698.6
668.4
Net cash/(borrowings)
68.9
(128.4)
2022 1H
2021 1H
Return on equity
48%
28%
Dividend HK cents
52.0
14.0
Total shareholder return
26%
114%
US$
2022 1H
2021 1H
Handysize
26,370
14,380
Supramax
33,840
18,260
Handysize Market Spot Rates
Supramax Market Spot Rates
US$/day net*
40,000
35,000
30,000
25,000
20,000
15,000
25 July 2022 $18,670
US$/day net*
40,000
35,000
30,000
25,000
25 July 2022
20,000
$21,720
15,000
10,000
5,000
0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
10,000
5,000
0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
* Excludes 5% commission
BHSI 38,000 dwt (tonnage adjusted)
Source: Baltic Exchange
BSI 58,000 dwt
Mill tonnes
Minor Bulk
annualised
2,200
2,100
2,000
1,900
1,800
1,700
1,600
1,500
1,400
2020
2021
2022
1,300
Jan Feb Mar Apr
May Jun Jul Aug Sep
Oct Nov Dec
Mill tonnes
Coal
annualised
1,600
1,500
1,400
1,300
1,200
1,100
2020 2021 2022
1,000
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
Mill tonnes
Grain
annualised
700
650
600
550
500
450
400
2020
2021
2022
350
Feb
Apr
Aug
Sep
Oct
Nov
Dec
Jan
Mar
May
Jun
Jul
Mill tonnes
Iron Ore
annualised
1,800
1,700
1,600
1,500
1,400
1,300
2020 2021 2022
1,200
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
Demand driven by construction materials, aggregates, cement and clinker
Marginal benefit from spillover of containerised commodities into geared bulkers
Conflict in Ukraine impacting grain exports from the Black Sea
Some volumes are replaced by other producers, most notably the US, Argentina, Brazil and Australia
Higher seaborne coal demand driven by surge in global energy demand and energy security concerns, despite record Chinese domestic production
Positive tonne-mile demand due to European ban on Russian coal and high gas prices
Loadings declined due to seasonal weather impacting mining operations from key producers in Brazil and Australia
Reduced demand in China as property construction weakens, and economic growth down due to continued Covid mitigation
Source: Indicative loading data and material from Oceanbolt, all rights reserved Data is subject to revision
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Pacific Basin Shipping Limited published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 08:47:03 UTC.
Pacific Basin Shipping Limited is an investment holding company principally engaged in the provision of dry bulk shipping services internationally. The Company is also engaged in the management and investment of the Companyâs cash and deposits through its treasury activities. Through its subsidiaries, the Company is engaged in convertible bond issuer.
PACIFIC BASIN SHIPPING LIMITED 
