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Lorenzo Shipping Corporation reported a net loss of P184.13 million in the first half of the year, 43.3% lower than P324.56 million net loss posted in the same period in 2025
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Revenues were 12.9% lower at P702.98 million as the domestic carrier handled 15.8% lower containers due to fewer voyages resulting from reduced fleet capacity
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The carrier’s direct costs and general and administrative expenses were lower in the first half of the year
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LSC last July transitioned from active shipping operations toward a business model focused on maximizing the value of its assets by strategically leasing them to other operating companies
Lorenzo Shipping Corporation (LSC) reported a net loss of P184.13 million in the first half of the year, 43.3% lower than P324.56 million net loss posted in the same period in 2025.
Revenues for the first six months of the year were 12.9% lower at P702.98 million from P806.82 in the same period last year, as the domestic carrier handled 15.8% lower containers due to fewer voyages resulting from reduced fleet capacity, LSC said in a regulatory disclosure.
Direct costs decreased 20% year-on-year to P202.79 million while general and administrative expenses dropped 21.3% to P59.12 million. Net finance costs were also 38.4% down to P20.95 million.
READ: Lorenzo Shipping cuts losses to P98.6M in Q1 2026
On May 15, 2026, LSC’s Board of Directors approved a resolution to transition from active shipping operations toward a business model focused on maximizing the value of its assets by strategically leasing them to other operating companies. Its stockholders approved of the plan on July 3.
LSC said the decision was driven by the company’s commitment to navigating industry headwinds more effectively and proactively adapting to developments in the domestic shipping industry. The transition is also intended to strengthen revenue stability, preserve asset value, and ensure that the company and its management remain able to fulfill their obligations to all stakeholders.
LSC said its Board determined that this strategic transition is in the best long-term interests of the company and its stakeholders.
READ: Lorenzo Shipping to shift from shipping to leasing assets
The transition commenced in July 2026 and is expected to be implemented progressively as management executes its strategic plan to maximize asset utilization through leasing arrangements.
LSC’s transition from active shipping operations to leasing its assets is part of the Magsaysay Shipping and Logistics Group’s (MSL) approved strategic pivot within its container shipping division.
In a separate statement earlier sent to PortCalls, MSL said it is reactivating NMC Container Lines, Inc. (NMCCLI) as the group’s operating platform for commercial shipping.
To support the transition, NMCCLI will lease the vessels and other assets of its sister company, LSC, to enhance fleet operations.
Both NMCCLI and LSC will remain active and integrated under MSL “ensuring operational continuity and uninterrupted service and support for all customers and supplier partners.”
MSL said positioning NMCCLI as the group’s primary operating entity creates a more efficient and dynamic platform to better respond to the evolving needs of the domestic shipping market.
At the same time, the structure enables LSC to focus on maximizing the value of its assets through a dedicated leasing model designed to support long-term financial stability and sustainability.
