Sponsored By

China Merchants Energy Shipping sinks to H1 loss

China Merchants Energy Shipping (CMES) sank into the red in the first half of this year due to the sluggish shipping market.

Lee Hong Liang, Asia Correspondent

July 10, 2013

1 Min Read
Kalyakan - stock.adobe.com

The Shanghai-listed shipping company recorded a first half net loss of RMB137.49m ($22.41m), as against a profit of RMB82.72m in the same period of 2012.

Revenue during the period dipped to RMB1.3bn compared to RMB1.56bn a year ago.

Both the tanker and dry bulk businesses reported losses while the LNG shipping unit recorded a profit.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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

You May Also Like