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Bulk shipping business looking up


On expectations of a recovery in the global economy, a rise in iron ore production and expansion of grain exports from the US, U-Ming Marine Transport Corp., a bulk shipper and member of the Far Eastern Group, is upbeat about the bulk shipping business in the coming quarters. U-Ming reported a net profit of NT$345.81 million ($12.43 million) for the first quarter of this year. Revenue increased 47 per cent year-on-year to NT$3.6 billion for the first four months. As 70 per cent of its fleet operates on spot charter, the rising BDI has a positive correlation with revenue, as per a report. 

 

Source: Exim News Service: Taipei, June 9

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