Jinhui sees bullish future despite slump.

(From Lloyds List)

Byline: Bulk shipping group's interim profit drops to $30.9m as charter rates soften, writes Keith Wallis in Hong Kong

Jinhui Shipping chairman Ng Siu-fai remains bullish about prospects for capesize and handymax rates despite reporting a slump in profits.

His comments follow on from new predictions from shipbroker and consultant Galbraith's which said this week that the worldwide dry bulk freight market is set to grow at an average rate of 2.5% to 2010, in line with demand, and that fleet capacity is likely to grow by 24% over the same period.

Operating losses from two capesize vessels and softening charter rates led …