Excerpt from: China Supply Chain and Logistics Strategy
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| December 03, 2007 | | China Shipping Container Lines Co. announced their profit in 2007 will be significantly higher than expected. | China Shipping Container Lines Co., Asia’s second-largest container line, forecasted a 3.18 billion Yuan ($430 million USD) profit in 2007. With the increased rates for shipments from Europe, and less empty containers returning from the US, Li Shaode, the Chairman of China Shipping, announced that the profit this year will be “significantly better” than expected. Bloomberg stated that “more than 90 percent of world trade moves by sea.” With the growing European imports, a 30 percent increase in traffic volume on Asia-Europe routes is predicted in 2007. The appreciation of Yuan may slow down China’s exports, but it may open another door for imports. Most containers on trans-Pacific routes are full going to the US, and about 40 percent full returning from the US, compared to 10 percent in 2006. The import market of US products to China has increased in the first 9 months of 2007 by 10.7 percent. | | |
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