Noble hedge prize



While other fuel-dependent companies are struggling with high oil prices, natural resources merchant Noble Group has managed to hedge off most of its bunker fuel exposure. The Hong Kong-based and Singapore-listed company, which recorded a 367% jump in net profit to $286 million in 2004, is in the business of helping clients to source goods globally, including industrial raw materials and soft commodity products, and physically delivering them using largely chartered vessels.

Stephen Marzo, c

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