China Shipping Will Beat Forecast on Europe, U.S.

191385 Resource 94086 94146 94146 1196706365886 1201634905062 Controlled China Shipping Container Lines profit higher than expected

China Shipping Container Lines Co. announced their profit in 2007 will be significantly higher than expected.

China Shipping Container Lines Co., <place w:st="on" />Asia</place />’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 <country-region w:st="on" /><place w:st="on" />China</place /></country-region />’s exports, but it may open another door for imports. Most containers on trans-Pacific routes are full going to the <country-region w:st="on" />US</country-region />, and about 40 percent full returning from the <country-region w:st="on" /><place w:st="on" />US</place /></country-region />, compared to 10 percent in 2006. The import market of US products to <country-region w:st="on" /><place w:st="on" />China</place /></country-region /> has increased in the first 9 months of 2007 by 10.7 percent.  9 application/xml false China Shipping Container Lines ocean containers transportation China Shipping Will Beat Forecast on Europe, U.S. Bloomberg.com http://www.bloomberg.com/apps/news?pid=20601080&sid=ajGC5tpKKicA Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.0; SLCC1; .NET CLR 2.0.50727; .NET CLR 3.0.04506) 127.0.0.1 127.0.0.1 Establish 208.105.4.154 false true false false true 187565 false false true false false false true 94086 blog blogsite/ChinaSupplyChain/web