China Shipping Container Lines posts Q3 loss of $149.71m

China Shipping Container Lines (CSCL) unveiled a massive net loss for its third-quarter following a net gain a year earlier, Seatrade Asia online reports. In the three months ended 30 September 2011, CSCL posted an unaudited net loss of RMB951.23m ($149.71m), a huge swing from a net profit of RMB2.15bn in the same period last year. In the first nine months of its 2011 financial year, the Hong Kong-listed container line recorded net loss of RMB1.58bn as against net profit of RMB3.33bn in the corresponding period of 2010.