Pacific Basin Shipping Reports Stable 2024 Results and Advances Sustainability Efforts

Pacific Basin Shipping ( (HK:2343) ) has issued an update.

Pacific Basin Shipping Limited reported a stable financial performance for 2024, with a net profit of US$131.7 million and a robust balance sheet, remaining debt-free on a net basis. The company is optimistic about the long-term fundamentals of the dry bulk sector, despite challenges from geopolitical and climate-related events. Pacific Basin is enhancing its fleet with new dual-fuel Ultramax vessels, marking a significant step towards achieving net zero emissions by 2050. The company maintains strong governance and leadership, with a focus on sustainability and shareholder value.

More about Pacific Basin Shipping

Pacific Basin Shipping Limited is a company operating in the dry bulk shipping industry, primarily focusing on the transportation of dry bulk commodities. The company manages a fleet of Handysize and Supramax vessels and is committed to sustainable practices, including transitioning to low-emission vessels.

YTD Price Performance: -20.45%

Average Trading Volume: 10,199

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $1.07B

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