Pacific Basin Shipping Limited (PCFBF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to today's Pacific Basin 2026 Interim Results Conference call. I am pleased to present Chief Executive Officer, Mr Martin Fruergaard and Chief Financial Officer, Mr Jimmy Ng. For the first part of this call, all participants will be in a listen-only mode and afterwards there will be a question and answer session. Mr Fruergaard, please begin. Yes, thank you very much and thank you all for your patience and welcome. And thank you for attending Pacific Basin's 2026 interim result call. We will start by highlighting the key points in the published presentation, followed by Q&A. Please turn to slide two. Dryball freight market strengthened year-to-date, supported by geopolitical disruption and trade inefficiencies, particular those arising from the conflict in the Arabian Gulf. We were well-positioned to benefit from the progressively improving freight market while continuing to outperform the market and deliver strong financial results in the first half of 2026. During the period, we generated an EBITDA Our balance sheet remained robust. As of 30th June 2026, we had a net cash of 157.2 million. We had available committed liquidity of 673.6 million and operating cash flow of 143.5 million. Please turn to slide three. We remain committed to delivering value to shareholders through dividends and share buybacks. For first half 2026, the board declared an interim dividend of 15.5 HKC per share amounting to 102.2 million USD. This is consistent with our revised dividend policy which allows us to distribute up to 100% of annual net profit excluding vessels' disposal gains when the company is in a net cash position. In addition, we repurchased approximately 9.5 million shares for $3.5 million during the first half of 2026 under our share buyback program of up to $40 mill...