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Lorenzo Shipping losses sank further to P324.56 million in the first half of 2025, 98% higher than the P163.77 million net loss in the first half of 2024
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This is mainly due to the lower number of voyages undertaken during the period
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For the first half of the year, the company handled 31.66% lower container volumes due to fewer voyages resulting from reduced fleet capacity
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To regain profitability, LSC said it is committed to consistently meeting vessel schedules through the comprehensive rehabilitation of vessels and land-based equipment
Lorenzo Shipping Corp. (LSC) losses sank further to P324.56 million in the first half of 2025, 98% higher than the P163.77 million net loss in the first half of 2024, mainly due to lower number of voyages made during the period.
Total revenues for January to June this year amounted to P806.82 million, down 38% from the P1.295 billion reported in the same period last year, according to a regulatory disclosure by the domestic carrier.
LSC said for the first half of the year, it handled 31.66% lower container volumes compared to the same period last year. The decrease was attributed to fewer voyages resulting from reduced fleet capacity.
General and administrative expenses stood at P75.16 million, a 26% decline year-on-year while net finance costs were up 13% to P34.01 million due to increased interest rates.
To regain profitability, LSC said it is committed to consistently meeting vessel schedules through the comprehensive rehabilitation of vessels and land-based equipment, complemented by operational efficiency measures such as system upgrades, quality initiatives, cost rationalization, and asset optimization.
The carrier’s strategic priorities for the upcoming quarters include, among others, vessel maintenance and equipment reliability to improve customer experience in cargo deliveries by sea and land.
There will also be voyage optimization through the employment of yield management strategies to ensure maximum margins per completed sailing, as well as process improvements assisted by innovation and technology to achieve operational efficiencies.
LSC will also develop its land- and sea-based employees’ physical, mental, and emotional welfare to maintain high morale and maximize productivity, while also adopting risk-mitigation measures and continuously strengthening statutory compliance to guarantee business continuity.
The shipping company operates seven vessels that call major ports in the country.
READ: Lorenzo Shipping Q1 losses more than double to P172.77M
