Pan Ocean lifts Q1 profit in South Korea on tanker, LNG, bulk gains in International Shipping News 05/05/2026 Pan Ocean said on May 4 in a regulatory filing that operating profit on a consolidation basis for the first quarter was 140.9 billion won, up 24.4% from a year earlier on a preliminary basis. Revenue for the same period was a preliminary 1.5089 trillion won, up 8.3%, and net profit was a preliminary 94.5 billion won, up 31.2%. By institutional sector, first-quarter operating profit in the tanker business was 28.1 billion won, up 41.5% from the same period a year earlier, driven by strong freight rates for MR (Medium Range) tankers of 55,000 DWT (deadweight tonnage) and below. During the same period, operating profit in the liquefied natural gas (LNG) business institutional sector rose 49.7% to 47.2 billion won. Pan Ocean said the completion of all new ship deliveries had a major impact. Operating profit in the bulk carrier institutional sector also rose 14.4% from a year earlier to 54.7 billion won. However, the container ship institutional sector recorded operating profit of 9.0 billion won for the same period, down 42.9% due to oversupply. A Pan Ocean official said, “Pan Ocean will continue efforts to secure market competitiveness and stable profitability by strengthening responsiveness to market changes and expanding the business portfolio.” Source ChosunBiz 2026-05-05 hellenicshippingnews... tweet Share