Pacific Basin Shipping Limited (OTCMKTS:PCFBF) Sees Significant Growth in Short Interest

Pacific Basin Shipping Limited (OTCMKTS:PCFBF) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,193,681 shares, a growth of 1,530.7% from the September 15th total of 73,200 shares. Based on an average daily volume of 2,208 shares, the short-interest ratio is presently 540.6 days.

Pacific Basin Shipping Trading Down 6.3%

OTCMKTS:PCFBF traded down $0.03 during mid-day trading on Friday, hitting $0.50. The stock had a trading volume of 200 shares, compared to its average volume of 6,193. Pacific Basin Shipping has a twelve month low of $0.38 and a twelve month high of $0.53. The company’s 50 day simple moving average is $0.49 and its 200 day simple moving average is $0.42.

Pacific Basin Shipping Company Profile

Pacific Basin Shipping Limited is a Hong Kong-based international dry bulk shipping company. The company owns and operates a fleet primarily comprising Handysize and Supramax vessels, which transport dry bulk cargoes across global trade routes.

Its vessels carry a broad range of minor bulk commodities, including agricultural products, grains, forest products, minerals, metals, steel products, cement and coal. Pacific Basin provides ocean transportation services to commodity producers, traders and industrial customers, coordinating vessel operations, cargo scheduling and related commercial activities.

The company serves customers worldwide through an international network of offices and operates in major dry bulk markets across the Pacific, Atlantic and other global regions.