Pacific Shipping (02343) announces interim results, with a net profit attributable to shareholders of $25.6 million, a decrease of 56% year-on-year.

Pacific Shipping (02343) announced its interim results for the six months ended June 30, 2025. The revenue was $1.0187 billion, a decrease of 21% year-on-year; net profit attributable to shareholders was $25.6 million, a decrease of 56% year-on-year; basic earnings per share were 3.9 Hong Kong cents, with an interim dividend of 1.6 Hong Kong cents per share. During the first half of the year, basic profit decreased by 50% to $21.9 million compared to the same period last year, due to weak freight market conditions leading to a decrease in revenue. Despite a decline in market freight rates and fewer days of hire, the group's core business contributions declined year-on-year. However, the performance of the group's handy-size and ultra-handysize bulk carriers was significantly better than the index, with about 27% and 40% higher respectively. The group's operating profit and contributions from operations also increased by 29% compared to the same period in 2024.