Company Study of China Ocean Shipping Group (COSCO), 2009

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 7, 2010 -- China Ocean Shipping (Group) Company (COSCO) is China’s largest shipping corporation which is specialized in container shipping, dry bulk cargo shipping, logistics, dock operation and contain leasing service. In particular, its shipping volume of both containers and dry bulk cargo ranks No.1 in China.

COSCO achieved the operating revenue of RMB22.85 billion in the first half year of 2009, wherein, the shipping of containers & related business and dry bulk cargo accounted for 39.82% and 46.58% respectively, but the prime operating business of the both were in loss, particularly contain shipping with gross profit margin of -35.3%, the main source of company’s losses.

COSCO made a net loss of RMB690.7 million in the quarter ended Sept. 30, cutting its quarterly deficit by nearly half from RMB1.27 billion in the second quarter.

As of Sep.30, 2009, COSCO operates a fleet of 146 container ships with a total capacity of 549,639 TEU. At the same time, the company holds 57 container ship orders (shipbuilding and leasing) totaling 430,226 TEU. Till Aug., 2009, COSCO ranked the seventh by shipping capacity in the world. It is expected that the shipping capacity of COSCO will be up to the fourth around the globe once its made-to-order ships get delivered completely.

China Ocean Shipping Group     COSCO