Q4 Financial Results
The fourth quarter of the 2009-2010 financial year was the final quarter in a year most in shipping would rather put behind them. Since the credit crunch began in 2007 and morphed into the deepest recession since the Second World War, shipping has faced a crisis of collapsing rates and oversupply of tonnage.Predicting when the bottom has been reached is a risky business. However, the combined results of listed shipping companies serve to provide an indicator of the state of the industry. The public filings of company finances indicate that, at least, the worst may be over.
Lloyd’s List has put together our coverage of listed shipping companies’ fourth-quarter results to provide an insight into the state of the industry at this challenging time in its history.
CSCL sets its sights on upturn in rates and volumes
CHINA Shipping Container Lines is targeting a 31% increase in revenue this year on the back of a recovery in freight rates and volumes, after plunging into the red last year with a Yuan6.4bn ($955m) net loss, writes Hui Ching-hoo in Hong Kong.
-
Fall in freight rates blamed for Tianjin Marine losses
CHINESE container and dry bulk line Tianjin Marine Shipping reported a loss of Yuan236.4m ($34.7m) last year, down from a net profit of Yuan8.4m in 2008, due to...
-
Break winner Tax boost for Yantai Raffles
A TAX concession secured by a Chinese operating subsidiary led Yantai Raffles, the Singapore-headquartered Chinese offshore platform builder, to post a modest...
-
Operating slump sends Berlian Laju Tanker into red
INDONESIAN tanker operator Berlian Laju Tanker plunged into the red last year following a drop in operating income and changes in the value of convertible bonds...
-
Sovcomflot to hold out until 2011 to launch IPO
SOVCOMFLOT’S group president and chief executive Sergey Frank has said that he does not “realistically anticipate” launching the group’s long-awaited initial...
-
Jiangsu Lianyungang hit by fall in Western...
-
Titan slashes 2009 loss to $69m after...
-
Finnlines starts to stem losses but dividends...
-
Tianjin Port Development eyes 10% box growth
-
Disposal of Hellenic stake helps Minoan stay...
-
PSA International profit down for the second...
-
Premuda seeks €35.2m in share issue
-
MOL doubles 2010 profit forecast as recovery...
-
Hamburg mothballs terminal to cut costs
-
Overcapacity and low rates hit Yang Ming
-
RCL to issue new shares amid mounting losses
-
Thessaloniki dips despite $5m payment
-
Guangzhou Shipyard stifled by strong yuan
-
Profits up at Hutchison Port parent
-
Costa Crociere revenues rise as fleet grows
-
Throughput decline hits SIPG revenue
Subscribe to daily bulletin
Sign up to receive the best in shipping, insurance, energy and trade news direct to your email inbox!
