Precious Shipping, or PSL, sees a bright outlook for the shipping business in the second half of 2026, supported by limited new vessel supply entering the market, which helps maintain supply-demand balance and is positive for freight rates. Managing Director Khalid Moinuddin Hashim revealed that forward freight rates for Supramax vessels remain strong, with August at around 18,500 US dollars per day and September trending higher near 20,000 dollars per day, while the fourth quarter stands at approximately 19,000 dollars per day. PSL's strength lies in its index-linked time charter strategy, which has locked in forward revenue of about 193 million US dollars, reducing volatility. The company also plans to expand its Ultramax fleet and is eyeing second-hand vessel acquisitions to bolster its portfolio.
Precious Shipping Public Company LimitedLimited new vessel supply supports freight rates, benefiting PSL's shipping business.
