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Pacific Basin, a Hong Kong-listed dry bulk operator with about 246 vessels, reported first-half net profit of US$8.2 million, down from US$30.8 million a year earlier. The company cited weaker dry bulk freight conditions and expects better results as IMO 2020 rules take effect.
The company's results reflect weak earlier-2019 freight markets, but its outlook for improvement tied to IMO 2020 supports the view that shipping costs for feed ingredients may firm later in the year.
freightwaves.comFreightWaves StaffJul 31, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
