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Taylor Maritime Ltd on Friday announced a narrowed loss as it expects tonne-mile growth from grain trade to be meaningfully stronger than volume growth. The firm is currently in managed wind-down, which it expects to occur by around June 2027. The Guernsey-registered dry bulk shipping investor said pretax loss narrowed to $44.4 million in the financial year ended March 31, from $100.0 million a year prior. The company’s fleet net book value was $112.4 million as at March 31, with a remaining 6 vessels held, as it sold 23 vessels during the financial year. This compares to a market value of $518 million and 29 vessels a year prior. Total shareholder return improved to plus 20.2% in financial 2026 from minus 12.2% in financial 2025. Revenue declined 46% to $150.2 million from $279.7 million, while total cost of sales came down 34% to $129.1 million from $195.7 million. Net charter revenue fell 45% to $113.9 million from $207.9 million. The company said: ‘The direct impact of the disruptions from the Strait of Hormuz to dry bulk trade has been moderate relative to the tanker and gas sectors, with Gulf nations accounting for only around 4% of global dry bulk volumes.’ It added: ‘Higher natural gas prices and the lapse of Qatari liquefied natural gas volumes incentivised fuel-switching toward coal in several countries, providing incremental support for seaborne coal demand, meanwhile, bunker prices have receded from their mid-March highs and voyage economics have stabilised as a result. The feared indirect macroeconomic effects of elevated energy costs and their impact on industrial activity and, by extension, minor bulk demand have not yet occurred with oil markets having adapted so far due to inventory drawdowns, most notably in China and the US.’ Looking ahead, Taylor Maritime said: ‘The outlook for 2026 is constructive, with seaborne grain trade forecast to grow by approximately 3.4% according to Clarksons, supported by a significant ’spillover’ of US soybean volumes into the first half of 2026 following the US-China ’trade truce’ in October 2025, a further record soybean harvest expected from Brazil and Argentina, and steady growth in Asian import demand. Tonne-mile growth from grain trade of 6.7% is expected to be meaningfully stronger than volume growth, given that longer Atlantic hauls are replacing shorter-haul routes disrupted by the Hormuz closure.’ Taylor Maritime shares jumped 5.5% to 61.00 pence each on Friday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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