www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Industries

Shipping lines adrift in stormy economic seas

By Zhong Nan | China Daily | Updated: 2013-07-19 07:32

Shipping lines adrift in stormy economic seas

Shipping lines adrift in stormy economic seas
China Cosco Holding Co Ltd invested heavily to expand capacity in 2008, when international freight rates were at record highs. But as the economy further slows and demand shrinks, its huge capacity has become a big liability. [Photo / China Daily]

Limited cashflows, weak demand, higher costs batter hard-hit sector

Even though China's first-half export performance was stable, the vast shipping sector will remain vulnerable as limited cashflows, lower freight rates and tight liquidity squeeze the industry.

Shipping lines adrift in stormy economic seas

Zhang Shouguo, vice-president of the China Shipowners' Association, said the country's shipping industry is at a critical point as it grapples with waning demand and higher costs, and many small businesses face bankruptcy.

Despite tough global economic conditions, China's exports rose 10.4 percent to $1.05 trillion while imports increased 6.7 percent to $944.87 billion. But those gains didn't do much for the shipping industry.

"The industry's troubles are likely to persist due to overall weak demand, depressed freight rates and price wars," Zhang said. "In the container business, capacity management needs to be more aggressive to restore the demand and supply relationship."

The Shanghai Containerized Freight Index, which measures outbound container rates, has fallen to one of its lowest points in recent years. The current cost of transporting a container to Europe is about $720, far below the break-even point.

China Cosco Holding Co Ltd, the country's biggest shipping company, said first-half operating revenue rose 0.69 percent to 3.63 billion yuan ($591 million). It posted a loss of 78 million yuan, compared with a year-earlier loss of 4.87 billion yuan.

Cosco Shipping Co, another Cosco listed unit, said its first-half net loss tripled to 78 million yuan, the latest sign that slowing growth in China is eroding corporate earnings.

The Chinese shipping giant invested heavily to expand capacity in 2008, when international freight rates were at record highs. But as the economy further slows and demand shrinks, its huge capacity has become a big liability.

"The global shipping industry, often seen as a barometer of the health of the world economy, sustained a heavy blow from the recent global economic woes.

"Cosco's troubles are part of a broader industry shakeout that has been exacerbated by the nation's rise as a global shipping power," said Liu Bin, a professor at Dalian Maritime University in Liaoning province.

Liu said although the world economy is recovering slowly, both developed and emerging economies such as China, Brazil, France and Germany have reduced their commodity demand.

Unpredictable United States currency policies and falling commodity prices have also forced international goods traders and governments to lower their expectations for global trade.

"Because the flagging European and US economies and increased shipping capacity have led to long-term lower profitability, Chinese shipping companies will continue to struggle in the second half of the year as the nation is experiencing an economic slowdown and high oil prices," said Zhou Liwei, a researcher at the China Classification Society in Beijing.

Previous 1 2 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 美女一级ba大片免色野外 | 特色毛片 | 欧美一级一毛片 | 国产呦系列呦 | 亚洲国产精品久久人人爱 | 成人在免费观看视频国产 | 成人三级视频在线观看 | 国产精品_国产精品_国产精品 | 97在线公开视频 | 亚洲欧美中文在线观看4 | 国产真实搭讪系列 | 在线精品国产一区二区 | 亚洲欧美日韩高清综合678 | 欧美xxxxxxxx| 国产日韩视频在线观看 | 综合自拍亚洲综合图区美腿丝袜 | 欧美一级毛片久久精品 | 成人午夜视频免费观看 | 日韩欧美视频一区 | 国内精品一区二区 | 特级毛片 | 国产综合久久一区二区三区 | 一级毛片日韩 | 欧美在线成人午夜网站 | 欧美成人免费高清二区三区 | 欧美性高清视频免费看www | 国产欧美日韩综合一区二区三区 | 久草网站 | 免费人成黄页网站在线观看 | 鲁大师成人精品视频 | 91啦中文成人 | 成年人精品视频 | 亚洲aⅴ | 久久99国产精一区二区三区 | 美女免费毛片 | 国产精品一级香蕉一区 | 亚洲男人的性天堂 | 国产精选在线 | 日韩在线中文字幕 | 视频一区视频二区在线观看 | 欧美手机在线视频 |