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Our Performance in 2017

Our core dry bulk business generated a net profit of US$2.6 million (2016: net loss US$87.6 million) in a markedly better year for dry bulk shipping. In the improved but still challenging market conditions, we generated daily earnings that outperformed the BHSI and BSI indices and continued to maintain good control of our vessel operating costs.

Dry Bulk Operating Performance

US$ Million1H172H1720172016Change
Handysize contribution7.823.631.4(37.1)>+100%
Supramax contribution9.110.719.8(3.3)>+100%
Post-Panamax contribution2.72.85.55.5-
Dry bulk operating performance before overheads19.637.156.7(34.9)>+100%
Overheads and tax(25.9)(28.2)(54.1)(52.7)-3%
Dry bulk net profit/(loss)(6.3)8.92.6(87.6)>+100%
Dry bulk vessel net book value1,756.61,791.51,791.51,650.8+9%
+/- Note:In our tabulated figures, positive changes represent an improving result and negative changes represent a worsening result.

OUR DRY BULK CARGO VOLUMES IN 2017

Key Performance Indicators

Performance vs Market


Profitability

Future Earnings and Cargo Cover

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