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Pacific Basin impairs fleet by USD 200 million

Developments in the first half of 2020 hit Pacific Basin hard, as the Hong Kong-based dry bulk carrier has had to impair the value of its fleet by USD 200 million, evident from the bottom line.

Photo: PR / Pacific Basin

Dry bulk shipping companies did not escape the corona pandemic unscathed, even though the bulk industry is not generally perceived to be among those hit the hardest in the shipping industry.

Pacific Basin's half-year interim results, which are the first ones to be published by one of the leading dry bulk carriers, show a bottom line deficit of USD 222 million in the first half of the year.

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