Pacific Basin reports $105m H1 profit as freight markets strengthen

Hong Kong-based dry bulk owner Pacific Basin Shipping reported a net profit of $105 million on revenue of $1.11 billion for the six months ended June 30, 2026.

The results compare with a net profit of $25.6 million and revenue of $1.02 billion in the corresponding period of 2025, with the company citing geopolitical disruption that tightened global shipping capacity.

Average daily time charter equivalent earnings for the company's core Handysize and Supramax fleets reached $14,150 and $16,550, respectively, exceeding their market benchmark indices by $1,950 and $2,370 per day.