China Shipping Posts Q3 Profits

Maritime Activity Reports, Inc.

October 29, 2015

Photo: China Shipping Development

Photo: China Shipping Development

 Hong Kong-listed China Shipping Development (CSD) , part of Chinese state giant China Shipping Group, posted a net profit of 391 million yuan, up 800 per cent compared to the same quarter last year.

Driven by strong tanker performance, CSD had a much better third quarter. Revenue grew 9 per cent to 3.44 billion yuan. For January to September, its net profit surged nearly 500 per cent to 745 million yuan. 
CSD said it expects its full year net profit would increase by over 100 per cent year on year, boosted by the increase in freight rates in the oil transportation market and the company’s effort in reining in costs.
Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News