Shanghai-listed China Shipping Container Lines (CSCL) announced today that the company posted profit of CNY460.3M ($75M) for the first six months of 2014, returning to black from a loss of CNY1.27Bn in 1H13.
The company made revenue of CNY17.6Bn during the reporting period, increased by 8.1% y/y, and its total assets amounted to CNY51.6Bn, up by 1.57% from the previous year. The company's logistics and other business posted revenue of CNY2.37Bn, making the largest increase of 78.1% y/y.
During the reporting period, CSCL has handled a total of 3.95M teu, 1.4% more than the same time last year. Its domestic services handled 1.56M teu, sharing 39.5 of the total volume, while 932,000teu were dealt via its Asia-Pacific services. As of June 30, 2014, CSCL operated a fleet of 669,000teu, with 4 newbuildings joined in the first half of the year, and ranking the seventh in the world in terms of capacity.
It projected that the general situation of the whole shipping industry will not be optimistic in 2H14, but the company will try to expand its cargo sources and find more returning cargos.
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