Hong Kong-listed Sinotrans Shipping Limited has announced the group's first half profit rose 231 per cent to US$190 million on a 79 per cent revenue increase to US$234.4 million compared with the first six months of 2007.
Container shipping revenue in the first half hit US$7.2 million, a 46 per cent increase year on year. The rise was attributed to the increase of tonnage brought about by the delivery of three new containerships, contributing to an additional capacity of 2,541 TEU.
The Sinotrans fleet is made up of 26 dry bulk vessels with a capacity of 1,330,000 deadweight tons, two oil tankers totalling 596,000 tons and eight containerships totalling 4,771 TEU.
Said Sinotrans chairman Zhao Huxiang: "The dry bulk shipping market remained robust in the first half of 2008. We have strengthened our fleet size with one new double-hull VLCC and three container vessels."
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