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- Net profit for the quarter: US$17 million
- Basic earnings per share: US$0.156
- Gearing ratio as at 31 March 2025: 16%
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 ended 31 March 2025.
In the first quarter of 2025, the freight market exhibited typical seasonal trends, with a decline in activity preceding the Chinese Lunar New Year in late January, followed by a recovery in freight rates as market demand improved in February. This pattern aligns with historical expectations, reflecting cyclical fluctuations in logistics and trade activity. The market freight rates soon began to regain strength thereafter driven by the robust demand for dry bulk commodities and limited supply of vessels, despite the simultaneous occurrence of multiple geo-political issues.
Revenue for the first quarter of 2025 increased 41% to US$39,304,000, comparing to US$27,894,000 for the corresponding quarter in 2024. The Company recorded a consolidated net profit of US$17,074,000 for the current quarter as compared to a consolidated net profit of US$2,405,000 for the corresponding quarter in 2024. Basic earnings per share for the first quarter was US$0.156 as compared to basic earnings per share of US$0.022 for the same quarter in 2024. During the quarter, the Group received a settlement income of US$20,223,000 arising from a legal dispute on the non-performance of a charterparty and an impairment loss of US$2,432,000 on assets held for sale for a disposed vessel was recognized.
As at 31 March 2025, the Group operated a fleet of thirty-four vessels, of which twenty-six are owned vessels (including the one which has been disposed of and classified under assets held for sale) and eight chartered-in vessels, with total deadweight carrying capacity of approximately 2,482,000 metric tonnes.
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 Act).
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