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Choppy waters
January 22, 2009, Thursday
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Print Edition
Print Edition
CHINA Shipping Container Lines Co, the nation's second-biggest cargo-box carrier, yesterday said unaudited net income for the year ended December 31 fell more than 50 percent as Chinese exports shrank and shipping capacity rose. Net income in 2007 was 3.32 billion yuan (US$485 million).
Container-shipping capacity was added more quickly than freight demand increased, and the traditional high-traffic season didn't happen this year, it said.
Container-shipping capacity was added more quickly than freight demand increased, and the traditional high-traffic season didn't happen this year, it said.
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