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Pacific Basin: We outperformed the bulk market by 32 percent

Stock listed Hong Kong shipping company Pacific Basin plans to continue its massive growth strategy as the management team is exceedingly pleased with the first half of the year.

Hong Kong-based and stock listed dry bulk shipping company Pacific Basin made an operating profit before various items of USD 13.6 million in the first half of the year, and a modest net profit of USD 0.3 million, according to the company's financial report for the first half of 2013.

Pacific Basin's executive management team writes in the report that the result outperformed the Handysize market by 32 percent, the result of, among other things, the shipping company's focus on costs in a dry bulk market that is currently at its lowest point since 1986.

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