China Shipping Container Lines reported third quarter net profit of $322 million as revenue more than doubled to $1.7 billion.
The results reflected a rebound in container shipping rates and volume and a reversal of China Shipping’s $290 million loss in the third quarter of 2009.
China Shipping is No. 8 on the JOC list of Top 15 Container Fleet Operators.
After losing money in 2009, China Shipping returned to profit in the second quarter of this year. During the first nine months of 2010, net profit attributable to shareholders was $500 million on operating revenue of $4.1 billion.
The results reflected a rebound in container shipping rates and volume and a reversal of China Shipping’s $290 million loss in the third quarter of 2009.
China Shipping is No. 8 on the JOC list of Top 15 Container Fleet Operators.
After losing money in 2009, China Shipping returned to profit in the second quarter of this year. During the first nine months of 2010, net profit attributable to shareholders was $500 million on operating revenue of $4.1 billion.