China: Shipbuilding Profits Soar x 10

China State Shipbuilding Co. said that its 2007 profit soared more than tenfold from 2006, powered by rising global demand, according to a report on www.chinaknowledge.com. China State Shipbuilding predicted in its statement published yesterday that its net profit for 2007 may jump 950%-1050%, without giving an exact figure. While reaping good earnings in its low speed marine diesel engine business, the company also saw significant gains in its ship manufacturing and mending sectors, boosted by China's booming ship industry. (Source: www.chinaknowledge.com)