Martin Frugard
Chief Executive Officer
Replay available
Pacific Basin Shipping Limited (PCFBF) Q1 2025 Earnings Call
Pacific Basin Shipping Limited (OTC: PCFBF) Q1 2025 earnings conference call, held 2025-04-17. Replay captured from the company's public earnings webcast.
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Investor webinar replay
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Replay transcript excerpt
WEBVTT 00:00:01.448 -- 00:00:06.635 Welcome to today's Pacific Basin 2025 First Quarter Trading Update conference 00:00:06.635 -- 00:00:10.800 call. I am pleased to present Chief Executive Officer, Mr. 00:00:10.800 -- 00:00:15.946 Martin Frugard. For the first part of this call, all participants will be in listen-only 00:00:15.946 -- 00:00:19.371 mode, and afterwards there will be a question and answer session. 00:00:19.371 -- 00:00:22.334 Mr. Frugard, please begin. Thank 00:00:22.334 -- 00:00:23.876 you very much. 00:00:23.876 -- 00:00:28.342 Welcome, ladies and gentlemen, and thank you for attending Pacific Basin's First Quarter 00:00:28.342 -- 00:00:34.646 Trading Update call. My name is Martin Forgoff, CEO of Pacific Basin. 00:00:34.646 -- 00:00:39.072 I trust you have received our presentation, which I will now run through to highlight 00:00:39.072 -- 00:00:43.298 key points before moving on to the Q&A session. 00:00:43.298 -- 00:00:46.059 Please turn to slide three. 00:00:46.502 -- 00:00:51.489 In the first quarter of 2025, head-sized and supermax market freight rates followed their 00:00:51.489 -- 00:00:56.627 seasonal patterns, and market activity reduced leading up to the Lunar New Year 00:00:56.627 -- 00:01:01.814 at the end of January, after which trade rates rebounded as activity 00:01:01.814 -- 00:01:04.558 picked up in February. 00:01:04.558 -- 00:01:09.585 Market spot rates for Hedgesize and Supermax vessels averaged 8,000 and 7,900 00:01:09.585 -- 00:01:11.307 net 00:01:11.307 -- 00:01:13.370 per day, respectively, 00:01:13.370 -- 00:01:18.397 representing a decrease of 24% and 36% compared to the same period 00:01:18.397 -- 00:01:20.913 in 2024. 00:01:20.913 -- 00:01:25.899 The Baltic Exchange Forward Freight Agreement average head-to-size rate for t...