CSCL-the most profitable ocean carrier by American Shipper

China Shipping Container Lines Co., Limited (CSCL, stock code:2866) has once again been assessed as the most profitable global ocean carrier by American Shipper after 2003 with operational profit rate of 23%. Ranking next in turn are OOCL (16.9%) and APL (16.8%) respectively.
It is reported in this magazine that the outstanding achievement of the liner shipping companies in 2004 is mainly benefited from the enhanced freight rate and the increased container trading volume. The average revenue per TEU of 2004 achieved an increase of 10% compared with 2003. Container trading volume increased 8%.
Many experts of the international container shipping market hold the view that the most remarkable 3 ocean carriers with increased revenue are Hyundai Merchant Marine Ltd., CSCL and CMA-CGM, their profit increase rate reached 40%-50%.
The magazine analyst believed that the driving factors of the prosperous shipping market in 2004 are the development of Chinese economy, the depreciation of USD, the demand of the American domestic market and the increase of exports.
In forecasting the trend of container shipping market in the second half of 2005 and 2006, most analysts believed that as facing the rush time in delivery of shipping capacity at the end of 2006, the ocean carriers will have to move towards the bottom of the cycle in the international container shipping market.
However, reviewing the operational achievement during the first several months in 2005, the arising profitable trend of liner shipping companies continues. Most ocean carriers believes that the operational achievement in 2005 will not lower than the level in 2004.