# Losses widen at Pacific Basin but hope springs eternal - Hong Kong Maritime Hub

> 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.

- Date: 2017-03-01 · published 2017-03-01T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/71884-losses-widen-at-pacific-basin-but-hope-springs-eternal-hong-kong-maritime-hub
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Persistently low dry bulk rates reflect weak shipping demand, but the grain-export recovery mentioned suggests modest support for grain freight.

## Read by commodity

- OCEANFRT: neutral

## Sources

- hongkongmaritimehub.com: https://www.hongkongmaritimehub.com/losses-widen-pacific-basin-hope-springs-eternal/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.