31 Principal Subsidiaries

As at 31 December 2018, the Company has direct and indirect interests in the following principal subsidiaries:

CompanyPlace of incorporation/operation 3Issued and fully paid share capitalInterest held %Principal activities
Shares held directly
PB Vessels Holding LimitedBVIUS$1,191,118,775100Investment holding
PB Management Holding LimitedBVIUS$12,313100Investment holding
PB Issuer (No.4) LimitedBVIUS$1100Convertible bond issuer
Shares held indirectly
Dry Bulk
Astoria Bay LimitedHK/Int'lHK$1100Vessel chartering
Baker River LimitedHK/Int'lHK$1100Vessel chartering
Baltic Sea LimitedHK/Int'lHK$1100Vessel owning and chartering
Barrow Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Bass Strait LimitedHK/Int'lHK$1100Vessel owning and chartering
Bell Bay Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
Bernard (BVI) LimitedBVI/Int'lUS$51,001100Vessel owning and chartering
Bonny Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Bright Cove LimitedHK/Int'lHK$1100Vessel owning and chartering
Cape York Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Champion Bay LimitedBVI/Int'lUS$1100Vessel chartering
Cherry Point LimitedHK/Int'lHK$1100Vessel owning and chartering
Chiloe Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Columbia River Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
Cooper Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Corio Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Cramond Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Delphic Shipping (BVI) LimitedBVI/Int'lUS$1100Vessel owning and chartering
Eaglehill Trading LimitedHK/Int'lHK$1100Vessel owning and chartering
鷹峯貿易有限公司
Eastern Cape LimitedBVI/Int'lUS$1100Vessel owning and chartering
Elizabay LimitedBVI/Int'lUS$1100Vessel owning and chartering
Elizabeth Castle LimitedBVI/Int'lUS$1100Vessel chartering
Elizabeth River LimitedHK/Int'lHK$1100Vessel chartering
Esperance Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Everclear Shipping (BVI) LimitedBVI/Int'lUS$31,001100Vessel owning and chartering
Finest Solution LimitedHK/Int'lHK$1100Vessel owning and chartering
Francesca Shipping (BVI) LimitedBVI/Int'lUS$30,001100Vessel owning and chartering
Future Sea LimitedHK/Int'lHK$1100Vessel owning and chartering
Gharapuri Island LimitedHKHK$1100Vessel owning
Gold River Vessel LimitedHK/Int'lHK$1100Vessel owning and chartering
Good Shape LimitedHK/Int'lHK$1100Vessel owning and chartering
Goodwyn Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Grande Island LimitedHKHK$1100Vessel owning
Hainan Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Helen Shipping (BVI) LimitedBVI/Int'lUS$1100Vessel owning and chartering
Honey Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Illovo River LimitedHK/Int'lHK$1100Vessel owning and chartering
Imabari Logger LimitedBVI/Int'lUS$1100Vessel owning and chartering
Impression Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Ince Point LimitedHK/Int'lHK$1100Vessel owning and chartering
Incheon Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Indian Ocean LimitedHK/Int'lHK$1100Vessel owning and chartering
Indigo Lake LimitedHK/Int'lHK$1100Vessel owning and chartering
Ipanema Beach LimitedHK/Int'lHK$1100Vessel owning and chartering
Isabela Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Iwagi Island LimitedHKHK$1100Vessel owning
Jamaica Bay LimitedBVI/Int'lUS$1100Vessel owning and chartering
James Bay LimitedBVI/Int'lUS$1100Vessel owning and chartering
Jericho Beach LimitedBVI/Int'lUS$1100Vessel owning and chartering
CompanyPlace of incorporation/operation 3Issued and fully paid share capitalInterest held %Principal activities
Jervis Bay Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Jiangmen Trader LimitedBVI/Int'lUS$1100Vessel owning and chartering
Judith Shipping (BVI) LimitedBVI/Int'lUS$38,001100Vessel owning and chartering
Jules Point LimitedBVI/Int'lUS$1100Vessel owning and chartering
Jumeirah Beach LimitedHK/Int'lHK$1100Vessel owning and chartering
Kaiti Hill LimitedHK/Int'lHK$1100Vessel owning and chartering
Kanda Logger LimitedHK/Int'lHK$1100Vessel owning and chartering
Key West Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
Kodiak Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Kultus Cove LimitedHK/Int'lHK$1100Vessel owning and chartering
Labrador Shipping (BVI) LimitedBVI/Int'lUS$38,001100Vessel owning and chartering
Lake Stevens LimitedHK/Int'lHK$1100Vessel owning and chartering
Liberty Vessel LimitedBVI/Int'lUS$1100Vessel owning and chartering
Longview Logger LimitedHK/Int'lHK$1100Vessel chartering
Luzon Strait Shipping (BVI) LimitedBVI/Int'lUS$1100Vessel owning and chartering
Marsden Point LimitedHK/Int'lHK$1100Vessel owning and chartering
Matakana Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Mega Fame LimitedBVI/Int'lUS$1100Vessel owning and chartering
Mount Adams LimitedBVI/Int'lUS$1100Vessel owning and chartering
Mount Aso LimitedHK/Int'lHK$1100Vessel owning and chartering
Mount Baker Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
Mount Hikurangi LimitedHK/Int'lHK$1100Vessel owning and chartering
Mount Rainier LimitedHK/Int'lHK$1100Vessel owning and chartering
Mount Seymour LimitedHK/Int'lHK$1100Vessel owning and chartering
Mount Taranaki LimitedHK/Int'lHK$1100Vessel owning and chartering
Newman Shipping (BVI) LimitedBVI/Int'lUS$26,001100Vessel owning and chartering
Nobal Sky LimitedBVI/Int'lUS$1100Vessel chartering
Oak Bay Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
Olive Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Olympia Logger LimitedHK/Int'lHK$1100Vessel owning and chartering
Orange River Shipping LimitedHK/Int'lHK$1100Vessel chartering
Osaka Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Otago Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Otago Harbour LimitedHK/Int'lHK$1100Vessel owning and chartering
Othello Shipping (BVI) LimitedBVI/Int'lUS$26,593100Vessel owning and chartering
Oyster Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering LimitedBVI/Int'lUS$10100Vessels chartering
Pacific Basin Chartering (No. 1) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 2) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 3) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 4) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 5) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 6) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 7) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 8) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 9) LimitedHK/Int'lHK$1100Vessel owning and chartering
Pacific Basin Chartering (No. 10) LimitedHK/Int'lHK$1100Vessel owning and chartering
Paqueta Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Pearl Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Pelican Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Penguin Island LimitedHK/Int'lHK$1100Vessel owning and chartering
Port Alberni LimitedHK/Int'lHK$1100Vessel owning and chartering
Port Alfred LimitedHK/Int'lHK$1100Vessel owning and chartering
Port Alice LimitedBVI/Int'lUS$1100Vessel owning and chartering
Port Angeles LimitedHK/Int'lHK$1100Vessel owning and chartering
Port Botany LimitedBVI/Int'lUS$1100Vessel owning and chartering
Puget Sound LimitedHK/Int'lHK$1100Vessel owning and chartering
Shakespeare Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Sharp Island LimitedHK/Int'lHK$1100Vessel owning and chartering
CompanyPlace of incorporation/operation 3Issued and fully paid share capitalInterest held %Principal activities
Swan River LimitedHK/Int'lHK$1100Vessel owning and chartering
Tampa Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Uhland Shipping (BVI) LimitedBVI/Int'lUS$1100Vessel owning and chartering
Verner Shipping (BVI) LimitedBVI/Int'lUS$1100Vessel owning and chartering
West Bay Shipping LimitedHK/Int'lHK$1100Vessel owning and chartering
White Bay LimitedHK/Int'lHK$1100Vessel owning and chartering
Zhoushan Shipping LimitedBVI/Int'lUS$1100Vessel owning and chartering
Others
Pacific Basin Agencies LimitedHK/Int'lHK$10100Holding company of Japan branch
太平洋航運代理有限公司
Pacific Basin Supramax LimitedHKHK$10100Provision of ship management and ocean shipping services
Pacific Basin Handymax (UK) LimitedEngland & WGBP1100Ship management services
Pacific Basin Handysize LimitedBVI/HKUS$10100Provision of ship management and ocean shipping services
Pacific Basin Handysize (HK) LimitedHKHK$10100Provision of ship management and ocean shipping services
Pacific Basin (UK) LimitedEngland & WGBP2100Shipping consulting services
Pacific Basin Shipping (Australia) Pty Ltd1AustraliaAUD1100Shipping consulting services
Pacific Basin Shipping (Canada) LimitedBC, Canada1 common share without par value100Shipping consulting services
Pacific Basin Shipping (Chile) LimitadaChile, SantiagoChilean pesos equivalent to US$6,000100Shipping consulting services
Pacific Basin Shipping (HK) LimitedHKHK$20100Ship agency services
太平洋航運(香港)有限公司
Pacific Basin Shipping (New Zealand) LimitedNew Zealand100 shares without par value100Shipping consulting services
Pacific Basin Shipping (South Africa) (Pty) Ltd1Republic of South Africa120 shares without par value100Shipping consulting services
Pacific Basin Shipping (UK) LimitedEngland & WGBP2100Shipping consulting services
Pacific Basin Shipping (USA) Inc.USAUS$1,000100Shipping consulting services
PB Maritime Personnel Inc.1The PhilippinesPHP$17,300,000100Crewing services
PB Towage Middle East LimitedCook/Int'lUS$2100Ship management services
PBS Corporate Secretarial LimitedHKHK$10100Secretarial services
Taihua Shipping (Beijing) Limited1&2PRCUS$4,000,000
(registered capital)
100Agency and ship management services
太華船務(北京)有限公司
(1) The financial statements of these subsidiaries have not been audited by PricewaterhouseCoopers. The aggregate net assets and net results for the year attributable to the shareholders of the Group amounted to approximately US$5,945,000 (2017: US$5,784,000) and US$416,000 profit. (2017: US$73,000 loss) respectively.

(2) The subsidiary is wholly foreign-owned enterprise established in the PRC, with registered capital fully paid up by the Group.

(3) Under the place of incorporation/operation, "BVI" represents "The British Virgin Islands", "Cook" represents "The Cook Islands", "England & W" represents "England and Wales", "HK" represents "Hong Kong" and "Int'l" represents "International".

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