Pacific Basin Shipping (HK:2343) has released an update.
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Pacific Basin Shipping Limited reported strong financial results for the first half of 2024, with an underlying profit of US$43.9 million, net profit of US$57.6 million, and EBITDA of US$157.9 million. Despite global challenges, the company’s fleet expansion and competitive earnings outperformed market indices, and Pacific Basin announced an interim dividend of HK4.1 cents per share, signaling confidence in the dry bulk shipping sector’s long-term prospects. The company continues to enhance its fleet, reduce debt, and maintain a robust financial position, with a focus on environmental compliance and potential investment in dual-fuel low-emission vessels.
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