Pac Basin ‘now chasing’ third party business

Hong Kong-based shipowner and manager Pacific Basin appears to have mounted something of a volte face when it comes to chasing third party shipmanagement business following claims in Lloyd’s List that it is targeting banks and financial institutions faced with taking over the fleets of struggling or bankrupt ship owners.

CEO Nigel Cleave resigned as CEO of the company’s third party management arm PB Maritime Services in December, claiming that the “priority for the Pacific Basin Group at this moment in time rests with its core dry cargo business, resulting in their concentration being presently focused in this sector. This leaves less or limited time to develop the ship management business at the pace I had desired.”

It has since emerged that following Cleave’s resignation, PB Maritime Services’ Cyprus office has also closed with the loss of at least one other position.

However, a source within the company told Lloyd’s List that Pacific Basin Shipping, which operates around 80 handysize and handymax bulkers, together with more than 10 tugs, could offer a more comprehensive service than conventional ship management companies.

He said the company would use its own in-house chartering department to ensure the ships kept trading.

Ex-Dobson and PB Maritime Services boss Nigel Cleave, has since been appointed CEO of Cyprus-based marine consultant Elias Marine Consultants, responsible for strategic development of the company’s worldwide marine services and consultancy management activities.