BUZZ — Pacific Basin Shipping climbs as Q3 core business grows in improving market
* Shares of Pacific Basin Shipping climb 5.9% to HK$3.835, on course for the biggest one-day pct gain since August 7 * Dry bulk shipping services provider reports third-quarter average daily time-charter equivalent (TCE) earnings of $16,020 for Handysize vessels and $17,990 for Supramax vessels, up 37% and 34% y-o-y respectively * Company says higher freight rates, resilient tonne-mile demand and increased shipments of certain commodities help lift average daily TCE earnings during the quarter * YTD, stock up 61.8%, while benchmark Hang Seng Index down 4.9% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com)
* Shares of Pacific Basin Shipping climb 5.9% to HK$3.835, on course for the biggest one-day pct gain since August 7 * Dry bulk shipping services provider reports third-quarter average daily time-charter equivalent (TCE) earnings of $16,020 for Handysize vessels and $17,990 for Supramax vessels, up 37% and 34% y-o-y respectively * Company says higher freight rates, resilient tonne-mile demand and increased shipments of certain commodities help lift average daily TCE earnings during the quarter * YTD, stock up 61.8%, while benchmark Hang Seng Index down 4.9% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com)