Bocimar's 2012 profit almost entirely conisted of a $51.7m capital gain on the sale of shares in the Australian miner Fortescue Metals Group (FMG).
The Belgian company continues to see positive things ahead for its dry bulk operator, as the supply and demand balance in the world fleet becomes more favourable for shipowners.
"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," the company stated in its earnings release.
"This development will also have an impact on the fleet's market value that already increased by 20% during 2013 and showed a further increase of 5% in the first months of 2014."
In its outlook CMB forecasts a stronger but more volatile dry bulk sector, with demand being supported by the completion of iron ore project completions and made less predictable by congestion and erratic FFA markets.
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