Chelsea Logistics’ revenue up 18% in Q1

Thanks to growth in freight operations and passenger demand.

Chelsea Logistics has reported a consolidated revenue of $37.47m (PHP 2.091b) in the first quarter (Q1) of 2025, reflecting an 18% increase from last year.

In a disclosure, the company said this was driven by growth in freight and passenger volumes, supported by higher rates and strategic asset optimisation, whilst vessel redeployment and chartered RoRo vessels boosted Freight revenues by 19%.

Chelsea Logistics’s direct dosts increased by 15%, staying below the 18% consolidated revenue growth. This was despite a 19% increase in bunkering expenses due to higher trip volumes and fluctuating fuel prices.

Operating performance jumped 46%, with operating profit reaching $2.96m (PHP 165m), attributable to cost management and operational efficiency.

“The 46% improvement in our operating performance underscores the effectiveness of our cost management strategies and our ability to navigate challenges with agility,” said Chelsea Logistics CFO Darlene Binay.

$1 = PHP55.80

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