Pacific Basin increases earnings on vessels in Q1

Hong Kong-listed dry bulk carrier Pacific Basin has increased earnings on its most important vessel types in the first three months of 2017, the carrier writes in an update Thursday.

Photo: Pacific Basin

Hong Kong-listed Pacific Basin is the first dry bulk carrier to announce positive growth in earnings for the carrier's vessels during the first three months of 2017. This growth was achieved however on the basis of the historically low rate level during the same period last year.

For its two vessel types Handysize and Supramax, Pacific Basin had daily TCE earnings of USD 7,460 and USD 8,030 respectively, which corresponds to growth of 26 and 38 percent compared to the same months one year ago, reports Pacific Basin in a trading update.

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