China Shipping Container Lines (CSCL) has announced positive profit alert of approximately RMB520m ($83.6m) for the year ended 31 December 2012, Seatrade Asia online reports.
The expected profit will reverse CSCL's net loss of RMB2.74bn in 2011.
Hong Kong-listed CSCL said the projected profit was mainly attributable to improvement in the shipping market last year, increased demand for container transportation and gradual recovery of freight rates.
“To cope with the need for optimisation of the company's container fleet structure, the company gradually updated its self-owned containers and achieved maximum added value by disposing of such containers in the secondary market when the selling price was comparatively high,” CSCL said.
All news