World News
Grindrod Bunker Barge Business Provides Support to 2016 Financial Results
South Africa-based shipping and freight logistics company Grindrod Limited (Grindrod) says its bunker barge business, as well as other factors, helped support its financial results for the 2016 financial year.
"The improvement in the dry bulk shipping rates from their lows in the first half and the continued good performance in the ship operating, coastal tanker and bunker barge businesses has positively impacted results," explained the company.
Despite the support provided by such factors, Grindrod says that it expects a loss between R 455 million ($34.81 million) and R 465 million ($35.58 million) for the year to December 31, 2016.
Still, Grindrod says that, with total assets in excess of R 36 billion ($2.75 billion), as well as low gearing, "the group's financial position remains strong."
Grindrod is slated to release its finalised results to shareholders on March 2, 2017.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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