The Group operates its global maritime shipping services through its Shipping Subsidiaries. The Group’s global maritime shipping business consists of two revenue streams, time chartering and vessel management services. The Group’s global maritime shipping business generated US$12.4 million, US$32.4 million and US$31.3 million revenue in the six months ended December 31, 2023, the fiscal years ended June 30, 2023 and 2022, respectively, which constitute 100% of the Group’s revenue. The Group expects to see steady growth in the global maritime shipping business. The Group plans to operate its seaborne pulping business through Openwindow and build its seaborne pulping business upon its long-established global maritime shipping operations. Via a combination of self-owned vessels and partnership with other shipowners for leased-in vessels, the Group expects to launch the seaborne pulping business by the first quarter of calendar year 2025.
