CSCL Saturn first call at Felixstowe
China’s CSCL has returned to profit for 2012 as rates improved.
The China Shipping Group containership unit said net earnings were CNY 525m ($84.45m) to 31 December, against a loss of CNY 2.74bn in 2011.
It told the Shanghai stock exchange that revenue increased 15% to CNY 32.6bn year-on-year.
The owner had forecast a profit in January, putting the improvement down to better rates as demand grew.
“We have been able to grasp the opportunities in these volatile markets and correctly predict market trends, thus implementing effective measures to maximise efficiency of trade lanes,” it added.
CSCL, whose fleet has a capacity of almost 560,000 teu, said as a result its operating performance had seen a “vast improvement”.
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