Key Performance Indicators

Group KPIs

Dry Bulk KPIs

Corporate Social Responsibility KPIs

Investor Relations KPIs

Group KPIs

Dry Bulk KPIs

Performance vs Market

  • Our 54% and 39% outperformance in 2015 compared to spot market indices reflects the value of our fleet scale and cargo book, and our ability to optimise cargo combinations and match the right ships with the right cargoes to maximise our utilisation and vessel earnings.


  • We generated Handysize daily earnings of US$7,870 with daily costs of US$7,930 on 51,600 revenue days. Our Handysize results were under pressure in the weak market resulting in a negative Handysize contribution despite our strong premium.
  • We achieved a significant turnaround in our Supramax performance by focusing on key routes in the Atlantic and on steel exports from China to generate a positive US$22.6 million Supramax contribution in 2015 (despite the much weaker market) from a US$14.8 million loss in 2014. Our Supramax business is benefitting in the weak market from its larger proportion of short-term inward chartered ships.
  • We operated an average of 143 Handysize and 64 Supramax ships resulting in an 8% reduction and 4% increase in our Handysize and Supramax revenue days respectively.
  • Our Handysize capacity has reduced as we are redelivering expiring medium and long-term chartered vessels to gradually lower our charter-in costs, relying instead on our growing fleet of owned ships and low-cost shorter-term and index-linked charters

Future Earnings and Cargo Cover

  • We have covered 44% and 59% of our 37,080 Handysize and 13,120 Supramax revenue days currently contracted for 2016 at US$7,800 and US$7,330 per day respectively. (Cargo cover excludes revenue days related to inward-chartered vessels on variable, index-linked rates)
  • While ship operators such as ourselves typically face significant exposure to the spot market, our contract cover provides a degree of earnings visibility.

Corporate Social Responsibility KPIs

Our total recordable case frequency (TRCF) reduced 4% to 1.6 in 2015, and we have steadily reduced our TRCF by an average of 6% per year since 2004.

Our “lost time injuries” frequency (LTIF) increased 13% year on year; such injuries increased from 13 in 2014 to 15 in 2015 – most arising from slips, trips and falls.

Our safety performance is driven by effective policies and procedures in our Pacific Basin Management System and a comprehensive programme of seafarer training and development at sea and ashore.


Our aim is to substantially eliminate our personal injury incidents and to improve on our best LTIF result of 0.85.
* TRCF and LTIF are principal measures of safety performance in the industry.

Our average deficiencies per inspection was unchanged at 0.91.

70% of our Port State Control inspections found zero regulatory deficiencies (2014: 68%).

These results are among the best in the industry, especially considering the scale of our activity in the Far East where defects are typically raised in larger numbers.


Our aim in 2016 is to achieve an inspection deficiency rate of less than 1.0 by maintaining our ships to a high standard, as assessed by external Port State Control (PSC) inspections.

CO2 Emissions

Our fleet’s carbon emissions in 2015 increased 16% to 10.7 grams of CO2 per tonne-mile, as calculated using the industry-standard ship Energy Efficiency Operational Indicator (EEOI) method. The increase was primarily due to lower fuel prices triggering a global increase in average ship operating speeds especially in the third quarter.

Our average operating speeds continued to be optimised by our proprietary Right Speed Programme based on prevailing freight rates and fuel prices. We continued to apply technologies and practices that we implemented in earlier years to minimise our fuel consumption and emissions, and benefitted from the delivery into our fleet of six new ships of efficient design.


Our aim in 2016 is to achieve an EEOI of less than 10.5, which will essentially seek to maximise cargo carried per tonne of energy consumed.

Environmental Pollution Incidents

In 30,500 ship days in 2015, our owned fleet committed no marine pollution violations. This performance is indicative of the pro-active culture of safety and quality on our ships, our Pacific Basin Management System which prescribes strict system controls and procedural safeguards to prevent fuel spillage, and the high standard of professionalism of our seafarers.


We aim to not have any no pollution incidents.

Investor Relations KPIs

Investor Engagement

Our share capital is held by a diverse range of institutional, private and corporate investors, so we consider it important to make ourselves accessible to a wide spectrum of shareholders and members of the investment community to enhance their understanding of our business. The number of investor contacts during a year is the key measure of our engagement with investors.

Sell-Side Analyst Engagement

Analyst coverage (as measured by the number of active research reports covering Pacific Basin) in the period is a key measure of our profile in the shipping sector.

Investor Perception Studies

We gauge feedback on our Annual Report, Investor Relations programme, corporate governance and group strategy through annual written, online and verbal investor strategy.

As we found in 2013 and 2014, investors still consider the quality of our management team, valuation of our stock and the investment opportunity in the Handysize and Supramax sectors to be the most compelling reasons to invest in Pacific Basin.

Number of Investors We Met

  • 13 analysts covered Pacific Basin in 2015 (2014: 17)
  • >84 research reports on Pacific Basin in 2015 (2014: >125)
  • 13 analysts attended our 2015 Analyst Day (2014:  22)

2015 Investor Perception Feedback Compelling Factors for Investing in Pacific Basin

My Annual Report

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