Chelsea Logistics Redefines Professional Growth as a “Moving Sidewalk” for 2026 (January 2026)
MANILA, PHILIPPINES – January 20, 2026 – Chelsea Logistics successfully launched its first monthly Toolbox Meeting of 2026 on January 5, reinforcing the Company’s commitment to internal development and a progressive corporate culture. The session, with the empowering theme “Cultivate, Commit, and Conquer,” outlined a renewed vision for employee professional growth. The “Cultivate, Commit, and Conquer” team ethos is defined by three pillars: Moving beyond the traditional “career ladder,” Chelsea Logistics is now viewing professional growth as a “moving sidewalk,” encouraging continuous development. The primary goal for 2026 is for every team member to proactively identify their “Skill Gap”—the difference between their current abilities and the requirements of their desired future roles. To help keep Chelsea employees stay focused, Chelsea Logistics Human Resources Head, Ms. Beth Nasol, shared the ABC of Career Growth: Chelsea Logistics believes that by fostering this growth-focused environment, it will not only strengthen its internal talent but also ensure collective success across all Business Units for the year ahead. About Chelsea Logistics Chelsea Logistics and Infrastructure Holdings Corp. is the publicly-listed shipping and logistics arm of Udenna Corporation. It is a corporation organized and registered with the Philippine Securities and Exchange Commission (SEC) on 26 August 2016 primarily to act as a holding company. Through its wholly-owned subsidiaries, Chelsea Logistics is engaged in the shipping transport and logistics business with key segments divided into: (i) Charter, (ii) Passage, (iii) Freight, (iv) Tugboat services, and (v) Logistics services. To learn more about the Chelsea Group, visit https://www.chelsealogistics.ph/
Chelsea Logistics Achieves Record PhP 8 Billion Revenues in 2024
Strategic Digitalization and Social Initiatives Drive Financial Resurgence Chelsea Logistics and Infrastructure Holdings Corp., the shipping and logistics arm of Udenna Corporation, held its virtual Annual Stockholders Meeting on April 28 with the theme Emerging Stronger which reflects more than just financial recovery, but its renewed focus on strategic digitalization and commitment to creating lasting connections to the communities it serves. Chelsea Logistics reported a consolidated net profit after tax of PhP 177 Million, marking a strong recovery from the PhP 1.143 Billion net loss in 2023. This milestone reflects a 24% increase compared to the Company’s net income in its 2017 listing year, underscoring its resilience and commitment to sustainable growth. During the meeting, Chelsea Logistics CFO Darlene A. Binay highlighted that a 14% increase in revenue, reaching a record-high of PhP 8 Billion, was the primary driver of the Company’s financial turnaround. Aside from increased freight and passenger volumes, improved rates, and expansion of trading vessels and ports, the growth was further supported by a 23% reduction in other operating expenses, which contributed to a tenfold (10.9x) year-on-year increase in operating profit. Additionally, the Company’s cost-efficiency initiatives—including savings from outside services and dues, controlled operating expenses, and interest expense reduction through the Company’s Liability Management Exercise—led to higher stockholders’ equity, an improved current ratio, and a lower debt-to-equity ratio. Chelsea Logistics President & CEO Chryss Alfonsus V. Damuy revealed how the Company mitigated the impact of operational challenges in 2024 particularly vessel availability and drydocking disruptions. The Company strategically redeployed vessels to higher-yield routes, time-chartered additional RoRo vessels and tugboats, and enhanced maintenance planning to minimize downtime. Mr. Damuy also confirmed that the Company executed a Dacion-En-Pago transaction involving part of its Taguig City real estate property, resulting in a 5% decline in consolidated total assets and 16% decrease in current liabilities. This strategy to divest non-productive assets and reduce debt optimized the Company’s portfolio while enhancing liquidity. In the President and CEO’s Report for 2024, Mr. Damuy highlighted Chelsea Logistics’ commitment to digital transformation. The Company strengthened its partnership with Xendit to enhance the digital payment experience of passengers booking through Chelsea Travel, the Company’s unified online booking system. Additionally, the Company has forged strategic alliances with Oracle NetSuite, Google, Starlink, Amazon Web Services, and KnowBe4 to drive cybersecurity, stable internet connectivity, digital upskilling, and innovation across its stakeholder ecosystem. Beyond profit making, Chelsea Logistics remains committed to sustainability and social responsibility, launching tree planting efforts, blood donation drives, feeding program, and education-focused initiatives like Brigada Eskwela and On-the-Job Training Program. Employees were also required to complete at least 40 hours of training annually, reinforcing a culture of growth which is a vital part of long-term success. “We extend our heartfelt gratitude to you, our esteemed shareholders, for being with us throughout this extraordinary journey. Your unwavering support and trust have been the foundation upon which we navigate challenges, seize growth opportunities, and expand our presence.” Mr. Damuy remarked.
Chelsea Logistics successfully rebounds with positive net income in 2024
Consolidated revenues reach PhP 8.007 Billion, a 14% YoY growth 08 April 2025 – Chelsea Logistics achieved a remarkable turnaround in its financial performance, reporting a Consolidated Net Profit After Tax of PhP 177 Million in 2024. This represents a significant recovery from the PhP 1.143 Billion Net Loss in 2023 and marks a 24% increase compared to its Net Income during the Company’s 2017 listing year. In 2024, the Group recorded a 14% growth in revenue, setting an all-time high record of PhP 8.007 Billion and surpassing its pre-pandemic peak in 2019. 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. The Passage and Freight sectors continued to propel the Group’s recovery, driving revenue growth by 20% and 9%, respectively. These increases were fueled by higher passenger and cargo volumes, improved rates, and the addition of more trading vessels and ports of call. As a result of Group-wide continuing cost management initiatives and operational efficiency improvements, the Group’s consolidated operating performance soared by 10.9 times, reaching an Operating Profit of PhP 431 Million in 2024, a remarkable recovery from the Operating Loss of PhP 44 Million in 2023 and a key milestone since the pandemic. Consolidated Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) climbed 35% to PhP 2.074 Billion. Additionally, Earnings per Share significantly improved rising to PhP 0.083 in 2024 from a Loss per Share of ₱0.545 in 2023. Chelsea Logistics President & CEO Chryss Alfonsus V. Damuy said, “In 2024, the Group focused on stabilizing its operations amidst the impact of the global pandemic and uneven progress of recovery in certain markets and industries. By fully embracing digital innovation, Chelsea Logistics was able to provide seamless and comprehensive services, reinforcing its continuing commitment to excellence and adaptability in a dynamic industry landscape. Looking ahead, we will continue to leverage innovative digital solutions to bridge gaps, foster collaboration, and enhance our services.” Chelsea Logistics CFO Darlene A. Binay added, “We sincerely thank our creditors, suppliers and other stakeholders for their steadfast support and trust. As we continue to navigate a dynamic market environment, our commitment to financial discipline remains unwavering. Through focused cost management initiatives, diligent efforts to reduce operating expenses, consistent monitoring of asset quality, and strategic liability management exercises, we are building a stronger, more resilient organization. These measures will not only drive efficiency but also position us for sustainable growth and long-term value creation for our stakeholders.
Chelsea Logistics profit surges Q1
Chelsea Logistics Holdings Corp. saw earnings surge in the first quarter of 2018, bolstered by recent acquisitions. Chelsea Logistics, controlled by businessman Dennis Uy, posted a profit of P115 million during the three-month period, up 326 percent, as shown in a stock exchange filing on Thursday. Moreover, total revenues hit P1.18 billion, up 39 percent over P850 million in the same period last year, when considering new acquisitions. Around 44 percent of revenues came from subsidiary Chelsea Shipping Corp., which saw revenue contributions jump 60 percent to P522 million. Chelsea Shipping’s fleet is composed of 12 tankers and four barges. This includes the Medium Range (MR) tanker received in April 2018, which will serve the needs of local oil companies such as affiliate Phoenix Petroleum Philippines Inc. Trans-Asia Shipping Lines Inc., which operates passenger and cargo operations in Cebu, generated P370 million revenues, up 28 percent. Recent acquisition Starlite Ferries saw contributions hit P241 million, up 33 percent. Its cost of sales and services, on a pro-forma basis, rose 24 percent to P759 million. Operating expenses went up 67 percent to P174 million. Chelsea Logistics CEO Chryss Alfonsus V. Damuy said the pace of growth will likely be maintained, given the strong demand. “With the anticipated influx of passengers during the summer season and increase in cargo movements towards the end of the year in preparation for the Christmas holidays, we are confident that we can sustain the growth in revenues and earnings of the Group during the succeeding quarters,” Damuy said in a statement. Source: https://business.inquirer.net/250579/chelsea-logistics-profit-surges-q1 Author: Miguel R. Camus (Inquirer.Net)Published Date: May 10, 2018
Chelsea Logistics reports three-fold jump in Q1 profit
Chelsea Logistics Holdings Corp. (CLC) reported that its net income for the first quarter of 2018 reached P115 million, an increase by 326% from the P27 million it earned in the same period last year. Its revenue also grew by 91.30% at P1.179 billion, from P616 million in the same period the previous year. In a regulatory filing, the shipping company said its acquisition of Worklink Services, Inc. and Starlite Ferries, Inc. in November 2017 propelled its profitability. “MV Archer – one of Starlite’s 14 RoPax (roll-on, roll-off passenger) vessels, recently started servicing the Matnog, Sorsogon – Allen, Northern Samar route in the South. As of end March 31, 2018, Starlite saw 33% higher contribution to the Group’s revenue at P241 million,” CLC said in a statement on Wednesday, May 9. It added that Worklink has been providing logistics solutions to known dermatological clinics, generating P58 million revenue. CLC’s tankers and tugs subsidiary, Chelsea Shipping Corp., added P522 million to the company’s overall revenue with its 60% increase on the first three months of 2018. It currently has 12 tankers and 4 barges. It’s passenger and cargo subsidiary, Trans-Asia Shipping Lines, meanwhile contributed P370 million in revenue, up by 28% than in 2017, with its fleet of eight roll-on, roll-off passenger vehicles and seven cargo vessels. “[W]ith the anticipated influx of passengers during the summer season and increase in cargo movements towards the end of the year in preparation for the Christmas holidays, we are confident that we can sustain the growth in revenues and earnings of the Group during the succeeding quarters,” CLC President and Chief Executive Officer Chryss Alfonsus V. Damuy was quoted as saying. Source: https://www.bworldonline.com/chelsea-logistics-reports-three-fold-jump-in-q1-profit/ Author: Denise Valdez (Business World)Published Date: May 9, 2018
Chelsea inks deal with Japan firm for 2 vessels
Chelsea Logistics Holdings Corp. (CLC) reported that its net income for the first quarter of 2018 reached P115 million, an increase by 326% from the P27 million it earned in the same period last year. Its revenue also grew by 91.30% at P1.179 billion, from P616 million in the same period the previous year. In a regulatory filing, the shipping company said its acquisition of Worklink Services, Inc. and Starlite Ferries, Inc. in November 2017 propelled its profitability. “MV Archer – one of Starlite’s 14 RoPax (roll-on, roll-off passenger) vessels, recently started servicing the Matnog, Sorsogon – Allen, Northern Samar route in the South. As of end March 31, 2018, Starlite saw 33% higher contribution to the Group’s revenue at P241 million,” CLC said in a statement on Wednesday, May 9. It added that Worklink has been providing logistics solutions to known dermatological clinics, generating P58 million revenue. CLC’s tankers and tugs subsidiary, Chelsea Shipping Corp., added P522 million to the company’s overall revenue with its 60% increase on the first three months of 2018. It currently has 12 tankers and 4 barges. It’s passenger and cargo subsidiary, Trans-Asia Shipping Lines, meanwhile contributed P370 million in revenue, up by 28% than in 2017, with its fleet of eight roll-on, roll-off passenger vehicles and seven cargo vessels. “[W]ith the anticipated influx of passengers during the summer season and increase in cargo movements towards the end of the year in preparation for the Christmas holidays, we are confident that we can sustain the growth in revenues and earnings of the Group during the succeeding quarters,” CLC President and Chief Executive Officer Chryss Alfonsus V. Damuy was quoted as saying. Source: https://www.bworldonline.com/chelsea-logistics-reports-three-fold-jump-in-q1-profit/ Author: Denise Valdez (Business World)Published Date: May 9, 2018
17.5% Growth in Net Profit Recorded
CHELSEA Logistics Holdings Corp. (CLC) posted a 17.5% growth in net profit last year to P161 million as revenues more than doubled after the acquisition of shipping companies and related businesses. In a disclosure to the stock exchange, the company said last year’s profit from 2016’s P137 million included a one-time gain on bargain purchase valued at P158 million. Chryss Alfonsus V. Damuy, CLC president and chief executive officer, said the capital raised from the company’s initial public offering on Aug. 8, 2017 allowed the significant expansion of businesses and operations. “As a result of the acquisitions during the last quarter of the year, we were able to increase our market share not only in the shipping industry but covering the end-to-end supply chain solution of the logistics industry,” he said. CLC described 2017’s profit growth as “tempered” after the near 100% increase in financing costs attributable to loans availed in proportion to the purchase of some of the new vessels. Last year, the company generated P3.9 billion in revenues, which it said was 140% higher than 2016’s. It attributed the increase to the acquisition of a stake in 2GO Group, Inc., as well as Starlite Ferries, Inc. and Worklink Services, Inc. The acquisitions resulted in additional freight revenues of P1.3 billion, passage revenues of P800 million, and P200 million from logistics services. Revenues from tugs assistance services doubled to P263 milion in 2017 from P118 million in 2016, also a result of the acquisition of Davao Gulf Marine Services, Inc. CLC in March last year acquired a 28.15% indirect economic interest in 2GO Group, taking over its management. It also acquired last year 100% of Starlite Ferries, a Filipino company with 14 vessels, as well as WorkLink Services, Inc., a cargo forwarder for food, garments, among others. Mr. Damuy said CLC expects the acquired vessels to bring profitability starting this year. In late 2017, CLC through its subsidiaries purchased four more vessels and ordered more during the first quarter. It expects deliveries within the year. Earlier this year, it signed a contract with Kegoya Shipyard for the construction of one brand new roll-on roll-off passenger ship with an option to order an additional three units with delivery dates from 2019 to 2020. CLC said that as of end-2017, the market capitalization of the company was at P16 billion based on the closing price of P8.78 per share. On Wednesday, shares in the company jumped 6.29% to close at P7.60 each. Source: https://www.bworldonline.com/acquisitions-boost-chelsea-logistics-income/ Author: Patrizia Paola C. Marcelo (Business World) Published Date: March 1, 2018
