The common denominator behind the improved performances of liner companies in the current reporting period has been the sharp drop in bunker prices. This has made up for the drops in revenue per teu they have experienced.

Apparently setting the tone for Chinese shipping companies, Sinotrans Shipping slid back into the red for the first half of 2015, turning to a $18.3m loss from a small $2.3m profit in the previous corresponding period.

Sinotrans Shipping has issued a profit warning for the six months ended 30 June 2015 in view of the overall sluggish shipping trade.

Sinotrans Shipping turned in a small 2014 profit of $1.86m even though revenue fell 8% to $1.21bn.

Sinotrans & CSC Shipbuilding Industry Corporation has inked a strategic agreement with Chongqing Iron & Steel (Group) Co on steel procurement for the shipyard.

Sinotrans Shipping has agreed to sell a 2008-built VLCC at a loss of $38.2m over the price of $100m it bought in 2011.

Sinotrans Shipping continues to prop up its beleaguered subsidiary, agreeing to extend a $10m short-term loan to its unit CSC, it said in a stock market announcement.

Sinotrans Shipping did significantly better in the first half of 2014 compared to the previous corresponding period, notching up a $10.0m net profit compared to just $1.6m previously as revenue jumped by a fifth to $112.7m from $93.5m.

Sinotrans Shipping while still turning a profit, could not be left unaffected by the poor market conditions last year, turning in a 79% lower profit of $4.32m.

Beleaguered Sinotrans Shipping has agreed to purchase four panamax dry bulkers for $17.3m each from an undisclosed buyer.

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