This is Raymond Ching. Welcome to Jinhui Shipping and Transportation 2023 Q2 and semi-annual report. I hope anyone, I hope everyone can hear me. Okay, I should start right away. For Q2, 2023, revenue for the quarter is at $23 million. Given the very challenging market, the net loss for the quarter is $7 million. We've recorded a basic loss per share at $0.06, six cents per share. In light of the rising interest rate environment and in order to remain prudent and defensive, we have lowered our gearing ratio, and as of end June 2023, our gearing ratio is at 8%. Highlights for the quarter.
Given the considerable pressure in freight rates of shipping market in the first half of 2023, the group reported a consolidated net loss for the current quarter of $7 million. Chartering revenue decreased 55% to $23 million for the current quarter, as compared to $51 million of corresponding quarter in 2022. This is due to a weak dry bulk shipping market, very challenging macroeconomic and financial environment in 2023. Not just first half, to be honest, it's first half and continuing relative to a strong freight market and favorable, you know, macro environment, same time last year. The reported average TCE of the group's fleet was $10,132 per day for Q2 2023. This represented a decrease of 62% as compared to $26,397 per day in Q2 2022.
On the more positive side, we have been working hard on cost control, so there's a decline in vessel running costs, mainly due to a drop in crew costs and continued reduction in pandemic-related manning expenses as a result of the lifting of COVID-related restrictions. There was a net loss of $1 million on bunker recognized during the quarter, as compared to a net gain of $4 million on bunker in the corresponding quarter of 2022. Other operating expenses decreased as the group recorded a net loss of $2.2 million on financial assets at fair value through P&L in current quarter, as compared to a net loss of $4.5 million in the corresponding quarter in 2022. Excuse me.
Depreciation and amortization decreased from $9.1 million for the second quarter of 2022 to $7.9 million for the second quarter of 2023. This is mainly due to the decrease in depreciation on owned vessels as a result of reduced in carrying amounts of owned vessels after the recognition of impairment loss of owned vessels in 2022. Partially offset by the recognition of depreciation on right-of-use assets during the quarter. Due to a rising interest rate, we also recorded an increase in finance costs. As of end June 2023, secured bank loans decreased from $83 million as of end December 2022 to $81 million as of June thirtieth, 2023. The current portion of secured bank loans was $24 million and non-current, i.e., long-term portion, is $57 million respectively.
So for the first half of 2023, we repaid $2 million in bank borrowings. On the CapEx side, I think, you know, we very much under control. No new building expenses, and about $1.6 million was spent on dry docking and ballast water treatment systems during the quarter. A final dividend of $0.004 per share was declared in 2022, so a total of $4.4 million was paid in June 2023. I think this page of numbers is very self-explanatory, so I will go to the next one. In terms of key financial ratios, as of Q2 2023, total assets stands at 501.57. I say $501.5 million. That's a drop from Q2 2022, 2022, of course.
Net equity, $387 million. Secured bank loans, $80.8 million. Current ratio has slightly improved to 1.83 to 1, gearing at 8%. Working capital, $33.3 million, and we have an available liquidity of close to $50 million as of end Q2 2023. Next slide shows our fleet development. We have been shy in terms of, fleet expansion, and I think, you know, it turns out to be a very wise decision, given the, turbulence and volatility and, uncertainty in the market. So for 2023, actually, for the past two years, we've been focusing more on, maintaining the quality of our fleet, or in fact, you know, shedding weight of our, of our fleet.
So the main CapEx that has been, we've been spending on was the ballast water systems. Next slide is the fleet list, which, you'll be aware of. As of 27th of August, 2023, we are operating 24 owned vessels with a total capacity of 1.37 million metric tons. Average age, 13.8 years. In addition, we have one chartered-in vessel. In terms of the ballast water treatment systems, we only have one vessel remaining, to be treated, and that's Jin Gang, which will be done by 2024. So 96% of our vessels are all fitted with ballast water treatment systems now. In terms of debt maturity profile, we have extended, you know, the, debt maturity. So if you look at the red bar, 29% will be repayable within the next 12 months.
18% will be repayable within 24 months, and 53% will be repayable between three to five years. As of end June 2023, our total bank borrowing debt is at $81 million. I apologize for my voice. I'm, I have a little bit of a flu. In terms of cargo mix, 88% of the cargo we carry are minerals, 8% steel products, 1% coal, 2% agricultural products, and 1% cement. The volume of cargo that we carry has dropped. If you look at Q2 2022, we've carried 3.29 million tons, whereas in Q2 2023, we carried 4.43 million tons. I think this is a combination of we had more ships then, as well as, even fuller utilization of the fleet.
As I pointed out, and I'm sure everybody are aware, it has not been a very strong and demand has not been very strong for the past quarter, in fact, for the past six months. In terms of loading, 76% of our cargoes are loaded in Asia, excluding China. Nine percent from China, 7% from South America, 2% from Africa, 4% from Europe, 1% from Australia. In terms of where our cargoes are discharged or where are basically our shippers are, 83% of our cargoes goes, are discharged in China, 13% in Asia, excluding China, 2% Africa, 1% South America, and 1% Europe. Time Charter Equivalent. For Q2 2023, for the Post-Panamax, which is the one that we chartered in, the TCE is at $4,719.
Supramax fleet, 10,360, so average 10,132. Unfortunately, you know, the market has been very weak, so for the chartered-in vessel, we had, you know, a rather extensive period where the ship could not get employment. Hopefully, going forward as the market, you know, becomes stronger, the demand, you know, at least for the past few trading days, has been showing some, you know, encouragement, we can catch up, you know, and with this, the performance of this chartered-in vessel for the remaining of the year. We've always tried very best to drive down costs and, a little bit of positive news, you know, for you all. We've managed to squeeze down, you know, running costs, you know, as of Q2 2023.
The running cost, $5,429, depreciation, $3,477, finance cost, $156. Finance cost is the one thing that, you know, is, is very much beyond our control, apart from lowering debt. But if you see on the operation side, on the running costs, we managed to squeeze, you know, $500, almost $500 from Q2 2022. So we'll continue to work hard on this front. On the outlook, I think, you know, it's very, very difficult. I think I'm pretty sure that you all have read in the press, financial news that, you know, there's a renewed round of worry over the global economic growth.
This is particularly related to our trade, dry bulk shipping, because one of the biggest driver of the dry bulk shipping market is China. So, with China economic growth slowing down, it affects our market. And in fact, you know, if you read in the various from Bloomberg, you know, Financial Times, et cetera, you'll find out that, you know, there are many articles about the economic slowdown of China is not necessarily or in fact is not a positive at all for global economy. So, but this is what's happening right now. If we look at our industry alone, on a standalone basis, the industry fundamentals actually are not so bad.
One of the biggest fear in shipping is always supply outstripping demand, and this is not the case right now, or at least supply is under control and there is no huge new building in the market or waiting to flush into the market. Of course, the interest rate cycle is not in our favor. It's actually not in any business favor, you know, when borrowing costs comes up. This is the reason why we are keeping gearing in check. You know, there has been shareholders asking us, you know, "Why are we not borrowing more? Why are we not borrowing more? Why are we, you know, so cautious on borrowing?" I think, you know, now you understand why.
I think there's the visibility again, once again, it's becoming, you know, very cloudy right now. I'm sure there will be upside coming, but we don't know when, and it requires, you know, many, many right pieces, you know, to fall in the right place. We need further stimulation, stimulate policy from various countries, in order to boost up the dry bulk shipping market, the freight rates. In fact, you know, you can imagine, when the macro, the monetary policy is not in, in favor, you know, even traders, shy away from, buying commodities. Trade finance, you know, become more scarce. But at the same time, we want to look at, you know, our business, you know, over the longer term.
We will continue to react and respond according to the market. We will continue to try to maintain a very high quality fleet and as reasonable age as possible. We will look out for opportunities and act on an opportunistic basis going forward. Rest assured, we'll be very, very cautious. That's all from me. So if you have any questions, you know, why don't you fire away, or maybe I'll suggest typing on the chat, so it's clear for everyone? Ah, I think you might have missed out, you know, on the Panamax TC. The Panamax fleet TC, you know, we have only have one Panamax, you know, which is the chartered in, and unfortunately, that particular market was not, you know, very encouraging.
So there's been a period, you know, over a month, where we couldn't find the right employment, you know, for that particular ship. You know, we have to think about positioning, et cetera, and end up, you know, none of the right employment, you know, fell, you know... We couldn't find the right employment for the ship, so that's why the TC has been so poor. Shipping market, July, August, poor. Not good. I'll be very blatantly honest with you. Okay, if there are no further questions, you know, I'll call this an end. You know, it's not a very exciting quarter. I hope on behalf of the company, thank you very much for attending, and I hope to bring everyone good news in the next quarter.