Malaysian Bulk Carriers Bhd is confident of a stronger performance in the second half of the year following the positive uptrend of the Baltic Dry Index (BDI), its chief executive officer Kuok Khoon Kuan said yesterday.
'We can see from the BDI performance, it's been going up in recent months. There is no reason to doubt that our performance will be equally strong,' Mr Kuok said.
'It (the uptrend) is also expected to last up to the first half of 2008. We are very positive on the market,' he said.
The BDI, which measures commodity shipping costs of various routes and ship sizes, closed at an all-time high of 7,783 on Monday.
'The BDI is a good indication for all shipping companies to perform well,' Mr Kuok told reporters after announcing the company's first-half financial performance here.
He said the rising demand from China and India was also expected to contribute positively to the company.
For the first half ended June 30, 2007, the company recorded a higher pre-tax profit of RM288.571 million (S$125.5 million) compared with RM143.341 million in the preceding period of last year. Its revenue was also higher at RM253.555 million from RM215.727 million previously.
'We can see from the BDI performance, it's been going up in recent months. There is no reason to doubt that our performance will be equally strong,' Mr Kuok said.
'It (the uptrend) is also expected to last up to the first half of 2008. We are very positive on the market,' he said.
The BDI, which measures commodity shipping costs of various routes and ship sizes, closed at an all-time high of 7,783 on Monday.
'The BDI is a good indication for all shipping companies to perform well,' Mr Kuok told reporters after announcing the company's first-half financial performance here.
He said the rising demand from China and India was also expected to contribute positively to the company.
For the first half ended June 30, 2007, the company recorded a higher pre-tax profit of RM288.571 million (S$125.5 million) compared with RM143.341 million in the preceding period of last year. Its revenue was also higher at RM253.555 million from RM215.727 million previously.