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Half Year 2019 Pacific Basin Shipping Ltd Earnings Call Transcript
Ladies and gentlemen, welcome to today's Pacific Basin 2019 Interim Results Announcement Call. I'm pleased to present Chief Executive Officer, Mats Berglund, for the first part of this call. (Operator Instructions) Mr. Berglund, please begin.
Thank you, and welcome, ladies and gentlemen. My name is Mats Berglund, I'm CEO of the company, and I'm joined by our CFO, Peter Schulz.
Please turn to Slide 2 for our interim results highlights. We made a net profit of $8.2 million and underlying loss of $0.6 million and a positive EBITDA of USD 101 million. Weaker dry bulk market conditions early in 2019 negatively affected our results for the half year. But we benefited from our continued TCE outperformance as well as our competitive cost structure. We have taken delivery of 5 modern Supramax vessels and 1 Handysize in the year-to-date. Two of the Supramaxes were delivered after the reporting period. We also completed the sale of an older, small Handysize, which we committed to
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