China Shipping - 500 Beiträge pro Seite

[aylinsandro]

China Shipping Development mit Halbjahresausblick
Shanghai 08.07.04 (asia-economy.de) Die börsennotierte China Shipping Development gibt bekannt, dass man im ersten Halbjahr vermutlich einen Gewinnanstieg in Höhe von mindestens 50 % erzielen wird. Der internationale Schiffsverkehr hat sich positiv entwickelt. Das Unternehmen verzeichnete aufgrund eines gestiegenen Handelsvolumens und einem Anstieg der Frachtraten ein gutes Ergebnis in seinem Öl- und Kohletransportbereich. Insbesondere der chinesische Hunger nach Brennstoffen hat dem Unternehmen geholfen. Der Ausblick über die positiven Zahlen musste aufgrund der Börsenbestimmungen der Börse Shanghai vorgenommen werden, an der China Shipping ebenfalls notiert ist. 08.07.2004 (al)

[aylinsandro]

Hunger for fuel drives China Shipping profits
Gladys Tang

China Shipping Development, the mainland`s biggest shipper of oil, posted a 92.6 per cent increase in net profits in the first half, beating analysts` expectations, as China`s booming economy drove oil and coal imports sharply higher.

Analysts expect growth will remain robust for the rest of the year.

The Hong Kong-listed carrier earned 885.85 million yuan (HK$835.09 million) in the first half, a 75 per cent gain over last year`s results, and beating analysts` forecasts of about 805 million yuan.

The carrier`s cargo volume rose 11.1 per cent to 57.03 million tonnes and shipping volume reached almost 59 billion tonne-nautical miles, up 18.7 per cent.

Turnover from domestic and international transportation rose by 28 per cent and 21.7 per cent, respectively.

Oil and coal were the main cargos contributing 60.3 per cent and 27 per cent, respectively, of turnover, which amounted to 2.96 billion yuan in the first six months. ``The significant increase in imported crude oil drove the transshipment of imported crude oil along the domestic coast ... and the freight rates remained at a high level,`` China Shipping Development told the Hong Kong stock exchange. It added two new oil tankers with a capacity of 42,000 deadweight tonnes (dwt) to its fleet during the period.

The company also benefited from strong demand for coal from mainland power plants. To boost profits, it switched some carriers from dry bulk cargoes to coal, and raised freight rates for coal along the coastal region. Revenue from coal transportation grew 66.1 per cent to 740 million yuan while the total shipping volume of coal surged 37.1 per cent to 21.7 billion tonne-nautical miles for the half year.

It kept a relatively tight rein on costs, with total operating costs increasing by 7.5 per cent year on year, compared with operating income growth of 25.6 per cent.

To fight against the sharp jump in fuel prices, which accounted for 33 per cent of total operating costs, the company said it would choose ports with lower fuel prices to fill their vessels and apply energy-saving technologies.


``We`re increasingly comfortable with the company`s earnings growth due to robust demand, rising capacity, sturdy freight rates for both oil and dry cargoes and the reported freight rate increase in domestic oil transportation,`` BOC International said.

The carrier raised domestic oil freight rates by 3.6 per cent in July.

Credit Suisse First Boston expects the delivery of six new vessels in the second half will continue to drive the carrier`s volume growth. These comprise two tankers of 110,000 dwt each, one very large crude oil carrier with capacity of 300,000 dwt, and three bulk carriers of 57,300 dwt each.


Although the market is anticipating the cost of shipping to peak next year due to excess capacity, CSFB vice-president Karen Chan believes China Shipping Development will be more resilient to cyclical swings in the industry. ``We view the company as an investment in China`s energy consumption growth rather than as a normal, cyclical shipping stock.``

10 August 2004 / 02:17 AM

[olliho]

schöner Wert, den sollte man auf jeden Fall im Auge behalten, auch wenn er schon mächtig angestiegen ist, hier ist noch Musik drin.

Gruß Olli