PACIFIC BASIN (Stock Code: 02343) reported revenue of US$2,081.00 million for the year ended 31 December 2025, compared with US$2,581.60 million in 2024. Profit attributable to shareholders reached US$58.20 million, down from US$131.70 million. The company attributed its results to softer market conditions and a moderated freight environment, while maintaining a diversified minor-bulk portfolio and disciplined fleet expansion.
Throughout 2025, PACIFIC BASIN highlighted steady fleet operations and competitive vessel costs. Its Handysize and Supramax segments achieved average time-charter equivalent (TCE) earnings of US$11,490 and US$12,850 per day, respectively, contributing US$117.20 million before overheads. Operating activity added another US$22.90 million before overheads, reflecting ongoing triangulated trading strategies that optimize fronthaul and backhaul routes to reduce ballast days and enhance vessel utilization.
The company continued to balance expansion and prudent financial management. It ended 2025 in a net cash position of US$134.00 million, supported by total cash and deposits of US$270.60 million and newly secured credit lines. Available committed liquidity rose to US$756.10 million, from US$547.60 million a year earlier. Five vessel disposals and the conversion of outstanding bonds contributed to a stronger balance sheet, while capital commitments of US$284.90 million—up from US$146.60 million—reflect further investment in newbuilds. A final dividend of HK6.00 cents per share was recommended, bringing total dividends for the year to HK7.60 cents per share, in line with the company’s practice of maintaining shareholder returns via dividends and share repurchases.
Minor bulk cargoes remained a core focus. Approximately 90% of PACIFIC BASIN’s laden voyages involved non-fossil fuel commodities, spanning agricultural, construction, and other diverse goods. Such commodity breadth, combined with global trade routes across Asia, the Middle East, the Americas, Europe, and Africa, provided operating resilience during a year marked by geopolitical and decarbonization-related headwinds. Management cited the mid-size Handysize and Supramax categories as central to flexible cargo handling, enabling triangular trading and stable TCE performance.
PACIFIC BASIN also provided updates on governance, risk considerations, and internal controls. The Board and its supporting committees focused on prudent oversight, compliance measures, and well-defined risk management to address emerging fuel and regulatory requirements. In alignment with sustainability targets, investments continued in fuel-efficiency upgrades and alternative-energy evaluations, supported by a specialized Sustainable Energy Solutions segment. The company’s established governance structure, which includes a Risk Management Committee reporting to the Audit Committee, monitored regulatory changes and fleet investment decisions.
Moving forward, PACIFIC BASIN indicated that it remains committed to strategic fleet renewal and balanced capital allocation, guided by a disciplined, counter-cyclical approach to shipping market cycles. Management emphasized its focus on maintaining cost efficiency, modernizing vessels for evolving environmental standards, and leveraging its minor-bulk expertise to keep delivering reliable, flexible shipping services worldwide.