Sponsored By

CSDC back in the black with better Q1 results

Bulker and tanker owner China Shipping Development Company has continued its turnaround in the first quarter, with a RMB51.9m ($8.28m) profit from a RMB484.2m loss in the previous corresponding period. Revenue also rose significantly to RMB3.2bn from RMB2.6bn previously.

Vincent Wee, Hong Kong and South East Asia Correspondent

April 30, 2014

1 Min Read
Kalyakan - stock.adobe.com

"Since the beginning of 2014, there has been a certain improvement in the domestic and overseas shipping markets. Based on information currently available to the company, it is expected that the Group may record accumulated net profit for the first half year ended 30 June 2014, as compared to a net loss of approximately RMB949m attributable to the equity holders of the
Company for the first half year ended 30 June 2013," the company said in a stock market announcement.

Read more about:

China

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like