Pacific Basin Shipping Ltd

Pacific Basin Shipping Ltd. has been upgraded to a Zacks Rank #2 (Buy), a rating driven entirely by an improving earnings outlook. The upgrade reflects steadily rising analyst estimates: over the past three months, the Zacks Consensus Estimate for the company has increased 53.3%. For the fiscal year ending December 2026, Pacific Basin Shipping is expected to earn $0.92 per share, unchanged from the year-ago reported number. The Zacks Rank #2 places the stock in the top 20% of the more than 4,000 Zacks-covered stocks in terms of estimate revisions, a position the rating system says implies the shares could move higher in the near term.

Pacific Basin Shipping reported a net profit of $105 million for the first half of 2026, a year-on-year increase of over 300%. Revenue rose 9% to $1.1 billion, while TCE earnings climbed 20% to over $660 million. The company declared an interim dividend of HKD 0.155 per share, totaling $102.2 million, and repurchased approximately 9.5 million shares for $3.5 million. Average daily TCE earnings for Handysize vessels were $14,150, up 29%, and for Supramax vessels were $16,550, up 35%. The balance sheet remained strong with net cash of $157.2 million and available committed liquidity of $673.6 million as of June 30, 2026.