Pacific Basin Shipping publishes transcript of first-quarter 2026 trading update call

• Pacific Basin held its 1Q 2026 trading update call, attended by Chief Executive Officer Martin Fruergaard and management representative Jimmy Ng.
• Net daily TCE rose year on year to US$12,130 for Handysize, US$13,970 for Supramax, beating relevant indices by US$1,030 per day and US$2,050 per day.
• Forward cover for 2Q 2026 reached 70% of Handysize days at US$14,000 per day, 90% of Supramax days at US$17,080 per day.
• Fleet plan shifted as four dual-fuel Ultramax newbuildings were converted to conventional-fuel Ultramax vessels in Japan, with an option for two dual-fuel (methanol) Ultramax newbuildings.
• Management flagged war in Arabian Gulf as tightening supply, with about 2% of sub-Capesize fleet trapped, while 2026 FFA averages implied US$14,080 per day for Handysize, US$16,230 per day for Supramax.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pacific Basin Shipping Limited published the original content used to generate this news brief on April 16, 2026, and is solely responsible for the information contained therein.