Net profit however fell 11.0% to RMB389.9m as losses in the marine transportation segment grew due to higher the impact of bunker prices hitting the bottomline. Marine transportation losses rose to RMB137.1m from RMB82.4m previously.
Revenue from marine transportation came up to RMB2.43bn, down by 4.0% from RMB2.52bn in the previous corresponding period. Container volumes saw healthy 12.6% growth to 1.4m teus for the first half of 20 12, from 1.2m teus previously but revenue did not match volume at the group moved more into the domestic trade and domestic feeder line market,
Good gains were made in the freight forwarding and terminal handling businesses however. Revenue here rose 15.1% to RMB19.63bn as freight rates recovered. Revenue at the storage and terminal services business also rose 9.4% to RMB1.02bn as the bulk cargo volume almost doubled to 1.7m tonnes while an increase in storage and terminal fees made up for flat box volumes.
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