China Shipping Major Reports 2012 Profits Dip

Press Release
Tuesday, March 26, 2013

China Shipping Development Company Limited reports 'Business Income' decreased 9.1% as against 2011 figures.

Chairman of Board Li Shaode reviewed the achievements China Shipping Development made in the year 2012, and the following extracts are from his speech before a gathering of analysts and foundation managers:

Year 2012 saw a sluggish recovery of the world economy, so the shipping market continued the low trend. With rising fuel costs and port charges, suppressed by low freight, many shipping companies are in difficulties. Under the correct leadership of the board of directors, China Shipping has taken steady steps to push forward the strategy of “big ships, big clients, big cooperation”, combined with refined management of production, cost control, plus building of talent teams, maintained a healthy trend of enterprise development.

 The total annual turnover was 389 billion ton/mile, 12.6% increase than last year, total business income 11.05 billion Yuan, a decrease of 9.1%. However, the net profit reached 73.74 million Yuan, which means the company’s efficiency remains the top level among all the shipping companies.

The Hong Kong capital market paid close attention to the presentation meeting. The reaction was satisfactory, which must have meant the meeting was a success, thought China Shipping Development.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Info-X Invests in $5m Headquarter Expansion

Transportation solutions provider capitalizes on outsourcing trend Info-X Software Technology, provider of software solutions and back-office support to U.S.

Daihatsu Joins ClassNK Research Project

Classification society ClassNK announced that it will embark on a joint research project together with Daihatsu Diesel Mfg. Co., Ltd. Through the partnership, ClassNK

Ecospeed Fuel and Cost Saving Solutions at SMM

Ecospeed announced it will exhibit its line of fuel and cost saving solutions at SMM in Hamburg. Ecospeed and fuel savings Routine in-water cleaning results

Finance

Info-X Invests in $5m Headquarter Expansion

Transportation solutions provider capitalizes on outsourcing trend Info-X Software Technology, provider of software solutions and back-office support to U.S.

US Rail Jams Force Rush to Roads and Rivers

U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low

Jones Act is Critical to Conn. Economy

Study shows Connecticut shipbuilding industry worth $2.5 billion to state’s economy, supports nearly 23,000 jobs The American Maritime Partnership (AMP) joined

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1766 sec (6 req/sec)