CMB Upgraded

Monday, January 22, 2001
ING Barings reportedly upgraded its earnings forecast for Belgian shipping company CMB for 2000, 2001 and 2002 after the company reported extremely strong preliminary 2000 results. "Second half 2000 earnings went through the roof," ING Barings said in a research note. "Management announced last November that full-year net profit would exceed $120.9 million in 2000, already well ahead of consensus estimates. CMB further surprises us by reporting 156 million euros. "Even though we were aware of favorable conditions in tankers, the contribution was far beyond imagination," it added. ING Barings said it raised its earnings estimate for 2000 to 16.05 euros per share from 11.85 euros previously, raised its 2001 estimate 18.64 euros per share from 13.09 euros, and upgraded its 2002 estimate to 15.19 euros a share from 13.83 euros. "We have upgraded our earnings forecasts with a higher contribution from tankers although we have cautiously assumed a 30 percent sequential decline--from the amazing second half of 2000--," ING Barings said. ING Barings said the top of the cycle seems to have been reached in dry bulk. - (Reuters)
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

Finance

Optimistic on VLCC Market

Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards.   The demand is expected to remain elevated with

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.8238 sec (1 req/sec)