Jinhui Shipping and Transportation (JIN) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue was $40.4 million, EBITDA $17 million, and net profit $0.08 million; basic EPS $0.001.

• For the nine months ended September 2025, revenue reached $120 million, EBITDA $67 million, and net profit $15.2 million; basic EPS $0.139.

• Q3 2025 revenue declined 11% year-over-year due to weaker freight rates and vessel disposals.

• Fleet renewal continued with six Supramax disposals and three Ultramax newbuild contracts; focus remains on lowering fleet age and enhancing competitiveness.

• No interim dividend declared for Q3 2025.

Financial highlights

• Q3 2025 revenue fell 11% year-over-year to $40.4 million; net profit dropped to $0.08 million from $7.6 million.

• Nine-month 2025 revenue rose 4.6% to $120 million; net profit was $15.2 million, down from $18.8 million year-over-year.

• Q3 EBITDA was $17 million; nine-month EBITDA was $67 million.

• Basic EPS for Q3 was $0.001, and for nine months $0.139.

• Net loss on vessel disposals for nine months was $6.2 million.

Outlook and guidance

• Cautiously optimistic outlook, expecting stable and robust demand for dry raw materials.

• Chartering market expected to remain robust, with gradual improvement anticipated in 2026.

• Ongoing focus on fleet renewal and maintaining flexibility amid macroeconomic and geopolitical uncertainties.

• 65% of Capesize and 100% of Panamax vessel days covered for H1 2026 at $22,000 and $18,000/day, respectively; 64% of Ultramax/Supramax days covered at $14,000/day.