Pacific Basin boosts fleet with four new Handysize vessels

On December 23, 2025, Pacific Basin's indirect wholly-owned subsidiaries signed contracts for four Handysize newbuilding vessels—Vessel 1, Vessel 2, Vessel 3, and Vessel 4—for an aggregate of approximately $119.2 million. These vessels are expected to be delivered in the first quarter of 2028 (Vessel 1 and 2) and the second quarter of 2028 (Vessel 3 and 4). The acquisitions will be funded by the group's cash reserves and/or bank borrowings.

Each vessel, with a deadweight capacity of 40,000 dwt, is priced at $29.80 million. Payment terms include 10% upon contract signing, 10% upon steel cutting, 10% upon keel laying, 10% upon launching, and 60% upon delivery. The new vessels feature fuel-efficient, open-hatch, and logs-fitted designs, offering increased cargo capacity and flexibility compared to earlier Handysize models.

The transactions are aggregated due to their similar nature, counterparty, and expected completion within 12 months. On an aggregated basis, the acquisitions exceed 5% but are less than 25% of the applicable percentage ratios, constituting a discloseable transaction under Chapter 14 of the Listing Rules.