Pacific Basin Shipping Limited (PCFBF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to today's Pacific Basin 2025 Third Quarter Trading Update Conference Call. I'm pleased to present Chief Executive Officer, Mr. Martin Fregard, and Chief Financial Officer, Mr. Jimmy Ng. For the first part of this call, all participants will be in listen-only mode, and afterwards, there will be a question and answer session. Mr. Fregard, please begin. Thank you. Yeah, and welcome, ladies and gentlemen. Thank you for attending Pacific Basin's third quarter trading update call. My name is Martin Forber, CEO of Pacific Basin, and I'm joined by our CFO, Jimmy Ng. At this time, we are with you from our office in Singapore. Assuming you have already gone through the presentation, we will highlight the points discussed in it before we proceed to Q&A. I'll first hand over to Jimmy for a quick overview of the third quarter performance and market performance. Thank you, Martin. Good evening, ladies and gentlemen. I will share with you some observations on the market and a snapshot of our business performance for the third quarter. Please turn to slide three. In the third quarter of 2025, 10-size and Supermax market freight rates showed good upward momentum post-Chinese New Year, especially sharply in the Supermax segment. Market spot rates for head size and supermax vessels averaged about $11,600 and $14,300 net per day, respectively, representing a decrease of 1% and an increase of 4% compared to the same period in 2024. The voting average head size FFA for the remainder of 2025 is $13,019 net per day, and the average Superman FFA rate is $14,140 net per day. Please turn to slide 4. In the first nine months of the year, global mined bulk loadings rose 4% compared to the same period last year, mainly driven by bulk sites, fertilizers, mined oils and concentrates. Chine...