China Shipping Development Co., a major coal and oil carrier, expects its 2008 net profit to rise 40 to 50 percent from last year, its general manager said on Wednesday. The company's first-half net profit rose 44 percent to 3.18 billion yuan ($464.5 million). Asked whether the company could report 40 to 50 percent earnings growth this year, Mao Shijia said: "That's about right."
The company expects to achieve total crude oil transport capacity of 8 million tonnes by 2011 with 14 very large crude carriers in operation, he added.
At the end of 2007, it had 65 crude oil vessels with combined capacity of 3.97 million tonnes, he said.
The company expects to achieve total crude oil transport capacity of 8 million tonnes by 2011 with 14 very large crude carriers in operation, he added.
At the end of 2007, it had 65 crude oil vessels with combined capacity of 3.97 million tonnes, he said.