Pacific Basin sees challenging market continue

Dry bulk carrier Pacific Basin sailed at rates surpassing market spot rates in the third quarter, but the carrier sees challenging market continue going forward.

Hong Kong-based dry bulk carrier Pacific Basin, a competitor to D/S Norden, will continue to manage its business according to expectations of a weak market on the medium-long term.

"All efforts are going into making the most of our strong dry bulk platform, reducing our costs and delivering maximum contributions in the weak market while safeguarding the Company’s positive EBITDA generation and cash position," notes the carrier in a third quarter trading update.

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