• ITVI.USA
    15,948.420
    108.680
    0.7%
  • OTLT.USA
    2.798
    -0.001
    0%
  • OTRI.USA
    22.010
    -0.060
    -0.3%
  • OTVI.USA
    15,936.600
    100.010
    0.6%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,948.420
    108.680
    0.7%
  • OTLT.USA
    2.798
    -0.001
    0%
  • OTRI.USA
    22.010
    -0.060
    -0.3%
  • OTVI.USA
    15,936.600
    100.010
    0.6%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American Shipper

PROFITS SURGE BY 82% AT HONG KONG ARM OF CHINA SHIPPING

PROFITS SURGE BY 82% AT HONG KONG ARM OF CHINA SHIPPING

   China Shipping Development Co., a company of the China Shipping Group listed on the Hong Kong stock market, improved its net profit by 82 percent in 2002, to RMB$591 million ($71 million), from RMB$325 million in the previous year.

   The increase in profit came mainly from lower losses on affiliated companies. China Shipping Development sold its 25-percent stake in money-losing China Shipping Container Lines last year to the group parent company, China Shipping Group.

   Losses on affiliated companies narrowed to RMB$100 million ($12 million) in 2002, from RMB$281 million in 2001.

   China Shipping Development is now engaged mainly in tanker shipping and bulk shipping activities.

   The company’s revenues rose by 5 percent in 2002, to RMB$4.1 billion ($493 million), from RMB$3.9 billion in 2001.

   Profit from operations was up 2 percent in 2002, to RMB$920 million ($111 million), from RMB$898 million in the previous year.

   China Shipping Development    increased its final dividend per share to RMB10 cents (1.2 cent), from RMB5 cents (0.6 cent) in the previous year.

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