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.


 


People & Company News

Japanese Yards Mull Shipbuilding Alliance

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced

MN100: Scienco/FAST

The Company: Scienco/FAST is an original equipment manufacturer specializing in marine sewage devices, environmentally-friendly cleaners and other industrial water management technologies.

MN100: MOPS Marine License Insurance

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms,

Bulk Carrier Trends

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

Fednav Welcomes Innovative Ballast System at Indiana Port

Fednav Limited, the largest international bulk shipowner in Canada, welcomed to the Port of Indiana-Burns Harbor, the Federal Caribou, one of seven new oceangoing

Essar’s Vizag Port Terminal Boost Third Party Business

Post the taking over of Vishakhapatnam Port Trust’s (VPT's) Iron Ore Handling Complex (OHC) on a Build-Operate-Transfer (BOT) basis for a period of 30 years in May’ 15,

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.1741 sec (6 req/sec)