Pacific Basin reports strong Q3 performance despite market shifts

Pacific Basin Shipping Limited's dry bulk freight markets rallied in Q3 2025, with Handysize and Supramax daily TCE earnings reaching $11,680 and $13,410 respectively. These figures represent a 6% and 10% improvement over the first half of 2025, driven by market disruptions and inefficiencies. The company's average net daily TCE earnings outperformed the Handysize BHSI by +$90/day and the Supramax BSI by +$1,540/day year-to-date.

Proactive measures have been taken to mitigate the impact of new US and Chinese port fees, including structural changes to the Singaporean company structure, relocating strategic leadership to Singapore, and changes to the Board composition. For Q4 2025, 72% of Handysize and 87% of Supramax core vessel days are covered at $12,380 and $14,060 net per day, respectively. The company generated an operating activity margin of $750 net per day over 6,830 operating days in Q3.

Global dry bulk net fleet growth was +2.3% in the first nine months of 2025, while newbuild ordering activity decreased by 70.9% year-on-year. The Handysize and Supramax orderbooks stand at historically constrained levels of 10.8% and 10.3% respectively, suggesting favorable supply fundamentals for the longer term. Pacific Basin continues its disciplined fleet renewal and growth strategy, with $66.4m in cash and $549.9m in committed liquidity as of 30 June 2025.