Zacks Investment Research Downgrades Pacific Basin Ship (PCFBY) to Hold

Pacific Basin Ship (OTCMKTS:PCFBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

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Shares of PCFBY opened at $4.83 on Friday. The company has a market cap of $1,203.86, a PE ratio of -9.11 and a beta of -0.08. Pacific Basin Ship has a 12-month low of $4.05 and a 12-month high of $4.83.

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About Pacific Basin Ship

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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