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).