Hong Kong-listed bulker operator Pacific Basin has reported a sharply reduced profit for the first half of 2011.
It blames the market’s ‘lacklustre environment’ in the six months to the end of June in its specialised handysize sector and losses in its ro-ro operation.
Pacific Basin’s underlying profit was $18.8m on a revenue of of $610.2m.
In the same period in 2010, revenue was similar at $616.6m
