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Pacific Basin Shipping reported a 2016 net loss of US$86.5m, up from US$18.5m in 2015, on a 14% revenue decline. The company cited weak dry bulk freight rates and oversupply, while noting freight improved later in 2016 on South American and US grain exports.
Persistently low dry bulk rates reflect weak shipping demand, but the grain-export recovery mentioned suggests modest support for grain freight.
hongkongmaritimehub.comMichael GrinterMar 1, 2017Not 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.
