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.
Write to Yue Li at [email protected]
(c) 2013 Dow Jones & Company
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,463 members that receive our newsletter.
Have a news tip? Let us know.
by Tom Orlik (Bloomberg) Who Loses in Trump’s Endless Trade War? In 2016, Donald Trump campaigned for the US presidency on a promise to beat China. Once in office, he unleashed a...
by Kirstin Ridley (Reuters) Newcastle United football club co-owner Amanda Staveley on Monday lost a London High Court battle with a Greek shipping tycoon over a historic debt of nearly...
On Thursday the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced action against financial networks aiding the Houthi forces in Yemen. This aims to choke off...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,463 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
