Wei Ching
Vice President
Good morning to those in Europe. Good afternoon to those in Asia. Thank you for joining Jinhui Shipping and Transportation Limited Q1 2026 Results Presentation. I believe you’ve all had a look at the results and have a copy of the presentation slide shall begin.
For Q1 2026, revenue for the quarter, USD 33 million. Earnings before interest, tax, depreciation and amortization, USD 17 million. We have recorded a net profit of $4 million for the quarter. Basic earnings per share at USD 0.04 and gearing ratio as of the end of the quarter, 5%.
This slide shows the comparison quarter-on-quarter. I think the good news, in particular, is the average daily time charter equivalent has risen 23% quarter-on-quarter.
Our chartering revenue declined by 17% to $32.8 million, primarily due to a reduced number of vessels in operation. We’ve sold off a number of older vessels. And of course, at the same time, we have committed to build some new ships, which will be delivered going forward. The group recorded a consolidated net profit of $4 million for Q1 2026 compared to $17 million for Q1 2025. The decrease was mainly due to the absence of a one-off settlement income of $20.2 million from the nonperformance of a charteredparty in the previous Q1 2025.
Average TCE improved at 23%, as described just now. Our fleet renewal strategy is still going ahead. During the quarter, 2 vessels were disposed at an aggregate consideration of USD 47 million and scheduled deliveries to the new owners, the buyers in Q3 2026. In February 2026, the group entered into 2 shipbuilding contracts for the construction of 2 Ultramax newbuildings, at a consideration of USD
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