Malaysian Bulk Carriers operating profits down to RM67.4m in nine months

Malaysian Bulk Carriers (MBC) operating profits fell to RM67.4m in the first nine months of the year down 57% on the same period in 2010, Seatrade Asia online reports. The Bursa Malaysia-listed company said lower profits were due to a 35% in charter rates in the dry bulk segment to average at $17,491 per day in the first three quarters of the year. Average rates for MBCs tanker fleet in the first nine months of the year remained almost unchanged at $12,257 per day compared to $12,315 per day in the same period the year before. The company said the outlook for shipping would remain weak in the final quarter of the year.