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China Shipping forecasts deficit

China Shipping forecasts deficit
China Shipping Container Lines Co., Ltd, the country's leading container shipping company, on Friday forecast its net profit in 2009 would post deficit from the previous year, without providing detailed data.

China Shipping Container Lines forecasts deficit for 2009.

China Shipping Container Lines Co., Ltd, the country's leading container shipping company, on Friday forecast its net profit in 2009 would post deficit from the previous year, without providing detailed data. The company attributed the deficit mainly to decreasing international container shipping business afflicted by the global economic downturn, the company said in a preliminary report posted on the website of the Shanghai Stock Exchange before its annual report release.

The company's 2008 net profit was 130.58 million yuan (19.15 million U.S. dollars). Earnings per share was 0.05 yuan.

Shares of China Shipping Container Lines opened lower at 4.56 yuan per share on Friday compared with the previous closing of 4.63 yuan on the deficit forecast.

www.turkishmaritime.com.tr

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