TRIS Rating confirmed that the rating of Precious Shipping (PSL) stands at “BBB-” and rating of PSL’s senior unsecured debentures at “BB+”.
The ratings reflect the recovery of PSL, thanks to a continuous improvement in the supply-demand balance of the dry-bulk shipping industry, which has been on an uptrend since 2017.
The ratings also take into account PSL’s track record and its ability to withstand severe industry cycles. Global trade negotiations should have no immediate and material impact on the dry-bulk shipping industry. However, if trade tensions escalate further, it may add uncertainty to freight rate recovery.