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Bocimar profit bolstered by ships

Bocimar profit bolstered by ships
BELGIAN dry bulk carrier operator Bocimar contributed euros93m to its parent CMB in Q1, up from euros37m in Q1, 2006.

BOCIMAR PROFIT BOLSTERED BY SHIP SALES

BELGIAN dry bulk carrier operator Bocimar contributed euros93m to its parent CMB in Q1, up from euros37m in Q1, 2006.

The company says average market earnings for the first quarter were capesize: US$76,712 a day, up from US$35,466 a day in Q1, 2006, panamax US$32,516 a day, up from US$14,774 a day and handymax US$31,786 a day up from US$14,242. The result includes capital gains of euros67m on two ship sales, compared to euros17m a year previously.

The company says: “The prospects for the remainder of the year are excellent. Taking into account the already announced sale of the Mineral Shanghai (2004 – 173,880 dwt) – scheduled for the second quarter – and the strengthening of the markets for the transport of dry bulk, it is expected that the results for 2007 will comfortably surpass those of 2006. Moreover more than 90% of the Bocimar fleet is already covered for 2007 at rewarding levels.”

www.TurkishMaritime.Com.tr

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