China Shipping expects 2012 profit

   China Shipping Container Lines said it expects to record a net profit attributable to shareholders of the listed company of about 520 million Chinese yuan renminbi ($83.5 million) for 2012, compared to a loss in 2011.
   In a filing with the Hong Kong Stock Exchange, China Shipping said “The profit was mainly attributable to improvement in the shipping market trends in 2012, increased demand for container transportation and gradual recovery of freight rates. The company was able to grasp the opportunities in these volatile markets and correctly predict market trends, thus implementing effective measures to maximize efficiency of trade lanes. As a result, operation
performance achieved vast improvement.”
   It also said it “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.” – Chris Dupin