Noble Group chartering less ships

Commodity Trader giant Singapore listed Noble Group is taking more cautious in chartering dry bulk carriers. In 2016, Noble Group carried less iron ore cargo. In the first 6 months Noble Group commodity volume dropped to 112 million tonnes due to reducing counter party risk. Shipping market is still trading below operating costs and in second quarter of 2016 Capesizes TCE is over $8,000 per day. In 2015 first 6 months, Noble Group was on green $169.2m but in 2016 first 6 months on red $14.4m. Commodity Trader Noble Group profiting in ship operations but also exiting of certain businesses.