CSCL ANNOUNCES 2010 ANNUAL RESULTS

China shipping Container Liners Co., Ltd (CSCL) announced the 2010 Annual results on 30th Mar , 2011, which is concerned by all parties. The Chairman of CSCL, Mr. Li Shaode, the managing director, Mr. Huang Xiaowen and other management attended the press releasing and the results presentation held in the Conrad Hong Kong.
In 2010, the global financial crisis receded to some extent, the container shipping industry saw its chance to turn around as demand resumed. For the year 2010, the Group s revenue was RMB34,808,706,000, representing an increase of 76.3% as compared with 2009. Net profit after tax was RMB4,233,241,000 and earnings per share were RMB0.36.
Since 2010, the container shipping market was characterized by: proactively idling excess shipping capacity by shipping companies; universal application of extra slow steaming in long haul, and so on. By leveraging on the favorable conditions, the Group further implemented refined management and adopted various measures to cope with the changing shipping market. The group actively idled its shipping capacity in face of a weak market condition in early 2010, optimized overall trade lane arrangement and shipping capacity based on effectiveness, expanded the coverage of trade lanes and market share in the regional markets through exchanging and buying shipping space as well
as jointly bidding vessels and other various manner, expanded sea-to-rail transportation network and further stabilised cooperation with major clients around the world, achieved effective control over various costs under the guidance of philosophy of refined management. At the same time, The Group also improved its organization set-up, optimized working mechanism and ensured successful implementation of decisions and enhanced operational efficiency.
In 2011, the global economy is in face of rapid rise in oil price, continuously high container price, gap between demand and supply and changes in competitive relationship and so forth. The group will continue to implement its prudent operating strategies:
1. Continue to optimize fleet structure.
2. Strive to enhance operational efficiency.
3. Continue to strengthen the cost control.
4. Broaden and deepen external cooperation.
5. Strengthen construction of overseas sales network.
6. Continue to optimize the structure of terminals.
7. Strengthen personnel training, improve assessment mechanism, strengthen team building and corporate culture building.
8. Strengthen brand service.
9. Speed up overall planning and implementation in different stages of IT system.