Zacks Investment Research lowered shares of Pacific Basin Ship (OTCMKTS:PCFBY) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “Pacific Basin Shipping Limited is a provider of diversified shipping services primarily engaged in owning and operating dry bulk vessels. The Company operates in three main maritime segments under the banners of Pacific Basin Dry Bulk, PB Energy & Infrastructure Services, and PB RoRo. The dry bulk segment owns and operates handysize and handymax dry bulk vessels providing cargo solutions and a range of freight services. The Company’s PB Towage segment offers services and barge fleet including Harbour Towage, Terminal Support, Project/Module Transportation and Logistics, Bulk Transportation, Offshore Support, Ocean Towing and Salvage Support. RoRo fleet is serves the major RoRo trades in Northern Europe, the Mediterranean and elsewhere. Pacific Basin Shipping Limited is headquartered in Central, Hong Kong. “
Shares of OTCMKTS:PCFBY remained flat at $$4.83 during trading hours on Friday. Pacific Basin Ship has a 1 year low of $4.05 and a 1 year high of $4.83.
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Pacific Basin Shipping Limited, an investment holding company, provides dry bulk shipping services worldwide. As of February 28, 2017, the company had a fleet of 226 ships, including 136 Handysize vessels, 88 Supramax vessels, and 2 Post Panamax vessels. It also offers ship and ocean shipping services, shipping consulting and ship agency, crewing, secretarial, and ship management services.
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