In spite of even lower spot rates for both Handysize and Handymax, Pacific Basin managed to increase its average daily profits, says the carrier in a trading update. But the carrier did suffer a significant deficit in the first half of the year.
BY KATRINE GRØNVALD RAUN
One of the world's largest dry bulk carriers, Pacific Basin, surpassed the spot markets for Handysize and Handymax in the 3rd quarter judging by average daily profits in these markets, says the carrier in a trading update.
On Dec. 5, all Russian crude oil will be banned in the EU. But oil from the warring country will still flow into the world market, and both the EU embargo and price cap can be circumvented, predicts sanctions lawyer.