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News Text
CSCL posts US$200 million net loss, little different from last year's
Date:2012-7-24 Degree:2023

Sep.4--CHINA Shipping Container Lines (CSCL), world's ninth biggest container shipping line, has
posted a year-on-year first half net loss of CNY1.25 billion (US$200 million), little different from
the CNY1.28 million loss posted a year ago.

CSCL second quarter net loss reached CNY569 million, a slight improvement from the first quarter net
loss of CNY689 million.

Poor results were attributed to weakness in freight volumes and rates. CSCL said that its total
liftings in the first half of 2013 reached 3.89 million TEU, down 1.6 per cent year on year.

Average revenue was estimated to be flat in the first half, as rate increases on the transpacific
and China domestic routes were offset by rate reductions on the Asia-Europe and intra-Asia routes.

CSCL said it sought to cut costs through super slow steaming and using low cost ports as well as
optimising cargo mix, scaling down its market share on the China domestic routes. Its domestic liftings
 dropped 11.8 per cent in the first half year on year.

(Source:shippingazette)

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