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WA farmers benefit from joint venture

UNITED Bulk Carriers has celebrated its third anniversary with joint venture partner Grain Pool, the marketing arm of grains industry organisation CBH Group, by handing over a cheque for $5.5 million. The cheque represents a half share of the past year’s net profit. UBC chairman Ken Palmer, who is also a CBH director, said the return vindicated the confidence the CBH board had shown in endorsing the bulk freight management joint venture with Hudson Shipping. Mr Palmer said UBC was one of a series of moves CBH had made in recent years as part of its long-term strategy to link growers to customers. “The profits which accrue from the Grain Pool’s involvement in the UBC joint venture effectively flow directly through to benefit the grain growers of WA,” he said. Using Hudson’s shipping expertise and network, UBC was able to source non-grain bulk cargoes by offering competitive rates and flexible sailings underpinned by constant grain cargoes. Mr Palmer said a key driver of UBC’s increased earnings over the past year had been the long-term charter of the new Super Maxi vessel, the MV African Kookaburra

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