Half Year 2020 Pacific Basin Shipping Ltd Earnings Call Transcript
Welcome to today's Pacific Basin 2020 Interim Results Announcement Call. I am pleased to present Chief Executive, Mr. Mats Berglund. (Operator Instructions) Mr. Berglund, please begin.
Thank you, and welcome, ladies and gentlemen. Thank you for attending Pacific Basin's 2020 Interim Results Earnings Call. My name is Mats Berglund. I'm the CEO of the company; and I'm joined by our CFO, Peter Schulz.
Please turn to Slide 3 for a summary slide on our first half highlights. In a challenging half year dominated by the global COVID-19 pandemic and related economic disruption, we delivered a positive EBITDA of USD 79 million and outperformed Handysize and Supramax market rates by a significant margin. We are encouraged by the fact that spot rates have more than doubled since the low point in May. Demand is typically stronger in the second half of the year, and we expect newbuilding deliveries to be a bit fewer. So we have good reason to expect a seasonally stronger, albeit
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