Belgian shipping group CMB expressed confidence for the rest of the year as fleet bookings were high and a foreign exchange gain limited the fall in its first-quarter net profit. CMB, which specialises in dry bulk transport, said its net profit was 10 percent down year-on-year at 24.3 million euros ($32.66 million), but well above the 13 million euro forecast in a Reuters poll after it realised exchange gains of about 12 million euros from its U.S. dollar cash position.

CMB said its prospects for the rest of the year remained positive, with almost the entire fleet of its main division Bocimar covered at rewarding levels. Spot rates suffered during the quarter.

The Belgian company also said Bocimar and its joint venture partner Wah Kwong had sold the China Venture ship. Bocimar would realise a capital gain of about $7 million at the time of delivery, due for the end of June. (Reuters)