Chelsea Logistics back in the black

MANILA, Philippines – Dennis Uy-led Chelsea Logistics returned to profitability in 2024 after registering record-high revenues, thanks to busier operations.

In a statement on Tuesday, the shipping company said its net income amounted to P177 million last year, a reversal from the P1.14-billion net loss in 2023.

Total topline figures grew 14 percent to P8.01 billion last year.

“This achievement stemmed from higher revenue across all business segments, overcoming challenges related to vessel availability through enhanced asset optimization and strategic deployment of trading vessels,” Chelsea said.