Belgium's CMB Claws Back Lost Ground in Q4 2013

MarineLink.com
Thursday, January 23, 2014
CMB Bulkship

CMB, Compagnie Maritime Belge, is a maritime group with its registered offices in Antwerp.  Next to holding activities, the Group's main participating interests are active in the transport of dry cargo (Bocimar) and aviation (ASL Aviation). The group notes in its fourth quarter 2013 financial result that its executive committee has discussed the results recorded for the fourth quarter and the preliminary results for the full year 2013. The consolidated result for 2013 is estimated to be US$49.400.000 (2012: US$ 133.954.000).

Comments
Bocimar’s average earnings for the fourth quarter and the full year 2013 were as follows:
After years of newbuilding deliveries far exceeding the growth in world seaborne trade, a discernable fundamental trend change has emerged which will bring supply and demand back to a more sustainable balance over the next two years.

In most segments of the dry bulk market - allowing for normal slippage, cancellations and deletions – the net increase is expected to hover around 5% which is a sharp reduction compared to the last five years.

On the demand side there are also numerous positive indicators, such as the renewed growth in global steel demand as well as an increase in demand for steaming coal.
The most important indicator is, without doubt, the increased availability of new cargo which should increase fleet utilisation. A number of new iron ore mining expansion projects which have suffered delays or downsizing, are now being delivered, with the ramp up over 2014 expected to be around 180 million tons, i.e. an increase by more than 10%.

On the other hand, the dry bulk markets will be more volatile than ever. Amongst others, weather factors, congestion and erratic FFA markets will lead to sudden spikes and falls in the freight markets, especially in the Cape and Panamax segments.


 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Canada Opts Out of Arctic Council Meeting

Canadian Environment Minister Leona Aglukkaq stated that a principled stand had been taken by Ottawa against Moscow's intervention in events in Ukraine, reports

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Bulk Carrier Trends

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

West Coast is Key for Exporting Bigger Canada Crops

Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops,

Collision, Grounding and Anchor Draggings in Chesapeake Bay

The U.S. Coast Guard is working with local response agencies and the Virginia and Maryland Pilots Tuesday after receiving a report of a collision between two ships

Finance

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Woodside Q1 earning up, no Leviathan deal

Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 5 percent rise in first quarter production on Thursday but said it had not

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil 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: 0.1808 sec (6 req/sec)