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CSCL 2005 turnover increases

CSCL saw its turnover increase 26.9 per cent to CNY28.37 billion (US$3.54 billion) in 2005 from CNY22.36 billion the previous year, the company reported this month.

Turnover from Europe and the Mediterranean increased to 37 per cent from 35 per cent in 2004, and sales from the US increased to 40 per cent from 39 per cent. Meanwhile, turnover from China itself dropped from eight per cent to seven per cent and that from Southeast Asia rose to seven per cent from six per cent.

The increase in the Chinese line's total turnover was primarily due to the increased volume of loaded cargoes combined with higher freight rates.

Overall loaded cargo volume increased 25.8 per cent to 4,597,395 TEU last year from 3,654,767 TEU in 2004.

The biggest increase in loaded cargo volume came from trade with Europe and the Mediterranean, which increased by a massive 38.7 per cent to 1,229,289 TEU in 2005 from 885,981 TEU the previous year. This was balanced by a 39 per cent drop in the volume of loaded cargo shipped to or from places other than the Americas, Europe and the Mediterranean, Australia, East and Southeast Asia and within China itself.

Loaded cargo volume from trade with the Americas increased 26.0 per cent to 1,124,841 TEU from 892,838 TEU. This remains the largest sector for the company's international business.

There were increases in loaded cargo volume from trade with Australia and with East and Southeast Asia. The volume with the former increased 18.5 per cent to 194,216 TEU from 163,883 TEU in 2004, while volume with the latter increased 17.3 per cent to 572,215 TEU from 488,017 TEU. While turnover from China is now slightly less as a proportion of total turnover, in terms of loaded cargo volume domestic shipping increased by 27.3 per cent to 1,402,272 TEU from 1,101,882, so it remains the largest sector for the company.

April, 22, 2006