Pacific Basin Shipping climbs as Q3 core business grows in improving market

By Reuters News

** Shares of Pacific Basin Shipping 2343.HK climb 5.9% to HK$3.835, on course for the biggest one-day pct gain since August 7

** Dry bulk shipping services provider reports third-quarter average daily time-charter equivalent (TCE) earnings of $16,020 for Handysize vessels and $17,990 for Supramax vessels, up 37% and 34% y-o-y respectively

** Company says higher freight rates, resilient tonne-mile demand and increased shipments of certain commodities help lift average daily TCE earnings during the quarter

** YTD, stock up 61.8%, while benchmark Hang Seng Index .HSI down 4.9%

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