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CMB announces fourth quarter results
CMB’s 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 USD 49.400.000 (2012: USD
133.954.000).
Bocimar’s contribution to the 2013 consolidated result amounts to USD 2.858.000 (2012:
USD 53.196.000).
In the course of the fourth quarter the Rio Negro (1999 – 20.501 dwt) was sold with a capital
loss of USD 975.000.
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.
Source: CMB (Compagnie Maritime Belge)
133.954.000).
Bocimar’s contribution to the 2013 consolidated result amounts to USD 2.858.000 (2012:
USD 53.196.000).
In the course of the fourth quarter the Rio Negro (1999 – 20.501 dwt) was sold with a capital
loss of USD 975.000.
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.
Source: CMB (Compagnie Maritime Belge)
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