China Shipping Container Lines (SHA:601866, HKG:2866): Expects Net Loss For 2011


China Shipping Container Lines Ltd. (SHA:601866, HKG:2866) expects a net loss for the year ended Dec. 31, 2011 compared with a net profit a year earlier, it said Wednesday.

The expected net loss is a result of weaker demand for international container transportation because of a slow recovery in the U.S. economy, the euro-zone debt crisis and slowing Chinese economic growth, the Hong Kong-listed company said.

A dramatic increase in oil prices and a reduction in container transport fees contributed, it added.
The company didn't specify the net loss but said its net profit for 2010 was CNY4.20 billion, according to Chinese accounting standard.


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