HIGHLIGHTS FOR THE SECOND QUARTER OF 2025
- Revenue for the quarter: US$40 million
- EBITDA for the quarter: US$15 million
- Net loss for the quarter: US$1.9 million
- Basic loss per share: US$0.018
HIGHLIGHTS FOR THE FIRST HALF OF 2025
- Revenue for the period: US$80 million
- EBITDA for the period: US$50 million
- Net profit for the period: US$15 million
- Basic earnings per share: US$0.139
- Gearing ratio as at 30 June 2025: 15%
The Board of Jinhui Shipping and Transportation Limited (the 'Company') is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the 'Group') for the quarter and six months ended 30 June 2025.
The dry bulk shipping market is a highly volatile market. Market conditions change rapidly due to factors like global economic conditions, supply and demand dynamics, and geopolitical events. Dry bulk freight rates showed steady improvement throughout the second quarter of 2025 yet remained under pressure as weak market confidence persisted amid global economic and financial instability. The Group’s revenue for the second quarter of 2025 reached US$40,242,000, representing a slight 2% decrease comparing to US$41,245,000 for the corresponding quarter in 2024. The Group recorded a consolidated net loss of US$1,925,000 for the current quarter as compared to a consolidated net profit of US$8,816,000 for the corresponding quarter in 2024. Basic loss per share for the second quarter was US$0.018 as compared to basic earnings per share of US$0.081 for the same quarter in 2024. The second quarter results include a non-recurring net loss of US$2,436,000 on disposal of a vessel upon its delivery.
Revenue for the first half of 2025 increased 15% to US$79,546,000, compared to US$69,139,000 for the same period in 2024. The Group recorded a consolidated net profit of US$15,149,000 for the first half of 2025 whereas a consolidated net profit of US$11,221,000 was reported in the first half of 2024. Basic earnings per share for the period was US$0.139 as compared to basic earnings per share of US$0.103 for the first half of 2024. During the first half of 2025, the Group received a settlement income of US$20,223,000 arising from a legal dispute on the non-performance of a charterparty.
To stay competitive in the market, the Group focused on enhancing the quality of our fleet and adjusting our fleet profile. During the first half of 2025, the Group entered into agreements to dispose of two aging Supramaxes as part of its ongoing fleet renewal strategy. Additionally, an Ultramax acquired at the end of 2024 was delivered to the Group in January 2025. These fleet renewal initiatives contribute to lowering the overall age of our fleet profile, hence strengthening our market competitiveness and long-term sustainability.
As at 30 June 2025, the Group operated a fleet of thirty-two vessels, of which twenty-five are owned vessels (including the one which has been disposed of and reclassified under assets held for sale) and seven chartered-in vessels, with total deadweight carrying capacity of approximately 2,347,000 metric tonnes. Among the owned vessels were two that have been arranged under sale and leaseback agreements, both of which became effective in early July 2025.
For details, please see attachment on http://www.newsweb.no. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).