SHANGHAI–China Shipping Container Lines Co. (2866.HK, 601866.SH) said it expects to swing to a net profit in 2012 thanks to recovering demand and freight rates in the shipping industry.
In a profit alert filed to the Shanghai Stock Exchange, the country’s largest container shipper by capacity said late Friday it is expected to register a net profit of approximately 520 million yuan (US$83.5 million) for the 12 months ended Dec. 31. The company reported a net loss of CNY2.74 billion for 2011, it said.
The company is expected to release its 2012 earnings results around the end of March.
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