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丰衣足食 : Yumin Shipping: Dry bulk market “thousands of miles clear skies” this year
2024-3-7 8:52:40 From: Maritime Industry Focus 0 people have participated and commented
After reaping steady results last year, Chinese Taiwanese dry bulk shipowner and operator Yumin Shipping called this year's market “a thousand miles clear.”
On March 6, Yumin Shipping announced its 2023 financial report. Last year, the company had annual revenue of NT$14.375 billion (approximately RMB 3.276 billion), net profit of NT$2,739 million (approximately RMB 624 million), net profit of NT$2,669 billion (approximately RMB 608 million), and surplus per share of NT$3.24 (approximately RMB 0.74 billion), all higher than pre-pandemic levels.
In terms of the fleet, in 2023, Yumin Shipping added a total of 9 new ships, and the fleet size increased to 72. The company expects 4 new ships to be delivered one after another, including 1 cement ship and 3 small to medium bulk carriers.
As the fleet size continues to expand and the dry bulk market improves, the operating revenue of Yu Civil Aviation is likely to return to the level of 2021 and 2022 in 2024.
Entering 2024, the dry bulk market will not be weak in the off-season due to tight capacity supply which effectively supports spot prices. Yumin Shipping described the dry bulk market this year as “thousands of miles of clear skies.”



On March 5, the average rental price for the Cape Line (5TC) reached 34,402 US dollars/day; the average rental price for the 82,000-ton Panama-Type (5TC) route (5TC) was 16,242 US dollars/day; the average rental price for the 58,000-ton super-flexible (10TC) route (10TC) was 14,270 US dollars/day, and the average rental price for the 38,000-ton Xiaoxian route (7TC) was 13,559 US dollars/day.
In January 2024, Yu Civil Aviation's operating revenue reached NT$1.49 billion, an increase of 71% over the previous year, making the third highest performance in a single month during the off-season. The company said that there were few days of operation in February, and with some ships entering docks, revenue will drop slightly. The operating forecast for March is comparable to January. The second quarter is the peak season for South American grains, the market may decline in July and August in the third quarter, followed by the arrival of North American grains in September, which is positive throughout the year.
Zhang Zongliang, deputy general manager of Yumin, said that due to the favorable climate, shipments of Brazilian iron ore have increased. Although the increase in China's imports of bulk raw materials has slowed, it is likely that there will be no recession. Coupled with increased demand from emerging countries such as India and Southeast Asia, tonnage supply is limited, and the dry bulk market is still optimistic throughout the year.
Looking ahead to the future market, Zhang Zongliang pointed out that the EU has begun to levy a carbon tax on shipping, and at the same time, the first-year operating carbon intensity index (CII) was announced. Ships classified as the final D and E classes must propose corrective plans, including reducing carbon emissions by reducing speed or upgrading ship equipment, etc., which will once again tighten ship supply. It is expected that market demand for energy-saving ships will continue to rise.

丰衣足食 : 0.785 Overload

丰衣足食 : 9sen dividend, 0.785 investment, weekly interest rate of 11.4%, almost outperforms other stocks. Very good, even with a stock price of 90 cents, the weekly interest rate is 10%