Pacific Basin buys two Ultramax newbuildings for US$78.4 million

• Pacific Basin terminated two shipbuilding contracts for dual-fuel methanol Ultramax vessels on April 16, 2026.
• Group entered two ship purchase contracts to acquire two conventional Ultramax newbuildings for aggregate consideration of US$ 78.4 million.
• Each vessel is priced at US$ 39.2 million, with US$ 9.9 million per vessel credited from instalments paid under terminated contracts.
• Deliveries are scheduled by December 2028 for Vessel A, within first half of 2029 for Vessel B.
• Move is expected to cut near-term capital spending while keeping exposure to modern fuel-efficient tonnage amid uncertainty over IMO Net-Zero Framework timing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pacific Basin Shipping Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260416-12108079), on April 16, 2026, and is solely responsible for the information contained therein.