Pacific Basin Shipping Ltd, Hong Kong's largest bulk carrier, said that 2007 net income more than quadrupled after China's surging demand for raw materials pushed cargo rates to a record. Net income jumped to US$472.1 million, or 30.1 US cents a share, from US$110.3 million, or 8.3 US cents from a year earlier, the Hong Kong-based shipping company said in a statement to the city's stock exchange yesterday. Sales rose 90 per cent to US$1.18 billion.
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