Group 1 - The core business of Pacific Shipping (02343) achieved average daily charter rates for small and ultra-small bulk carriers of $11,680 and $13,410 respectively in Q3 2025, representing a year-on-year decrease of 15% and an increase of 10%, while compared to the first half of the year, there was an increase of 6% and 10% respectively [1] - In Q3 2025, the spot market average daily charter rates for small (BHSI 38,000 dwt) and ultra-small (BSI 58,000 dwt) bulk carriers were $11,590 and $14,310 respectively, with a year-on-year change of -1% and +4%, and a significant increase of 33% and 64% compared to the first half of 2025 [1] Group 2 - The company exercised purchase options for two existing small bulk carriers and one yet-to-be-delivered ultra-large bulk carrier under long-term charter agreements at attractive prices in Q3 2025 [2] - The company received delivery of two newly built 64,000 dwt ultra-small bulk carriers constructed in Japan under long-term charter agreements, which include options for fixed rent and price extensions [2] - The company is reviewing the 301 tariff plan announced by the U.S. Trade Representative in April 2025, taking proactive measures to protect its business and ensure competitive pricing and access to ports in China and the U.S. for global customers [2]