Bought Courage Marine at S$0.355 today.
-Courage Steers 2007 Net Profit to US$60.4M on Record Freight Rates
-Buoyant demand for coal, iron ore and basic building materials from China and rest of Asia drive rates up
-FY07 tax free dividend of 3.115 cts/share on 0.55x payout ratio
-Firm demand from Asia, longer voyages and port congestion will continue to underpin high freight rates
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