Jinhui Shipping and Transportation (JIN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $36.5M, down 9% year-over-year, with net profit of $5.3M, a 374% increase from Q2 2025, reversing a $1.9M loss in Q2 2025.

• H1 2026 revenue was $69.3M, down 13% year-over-year, and net profit was $9.6M, down 37% from H1 2025, which included a $20.2M one-off settlement.

• Basic EPS for Q2 2026 was $0.048; for H1 2026, $0.088.

• Fleet size reduced to 21 vessels from 32 a year ago due to the disposal of eight Supramax vessels in 2025 and ongoing fleet renewal.

• No interim dividend declared for Q2 2026.

Financial highlights

• Q2 2026 EBITDA was $17M; H1 2026 EBITDA was $34M.

• Operating profit for Q2 2026 was $7.1M, up from $0.2M in Q2 2025.

• Net loss on vessel disposals in Q2 2026 was $2.4M.

• Average daily TCE for Q2 2026 was $18,015, up 30% year-over-year; H1 2026 TCE was $17,150, also up 30%.

• Shipping-related expenses for Q2 2026 fell to $14.9M from $22.9M in Q2 2025.

Segment performance

• Capesize TCE in Q2 2026 was $31,595 per day; Panamax $19,974; Ultramax/Supramax $15,364.

• Cargo mix in Q2 2026: 74% minerals, 9% coal, 5% cement, 2% agricultural, 2% steel, 1% fertilizer, 7% other.

• Cargo volume in Q2 2026 was 2.86M tonnes, down from 3.23M tonnes in Q2 2025.

• 42% of chartering revenue and loading from China, 23% Australia, 16% Africa, 12% Asia ex-China, 7% North America; 54% of discharging in China.

• Fleet utilization rate for Q2 2026: 99%.