China Shipping’s 3Q Loss Worsens

China Shipping Container Lines posted a third-quarter loss of $284 million, which it said was 683 percent worse than the $39.7 million it reported for the same quarter last year.

The Hong Kong-listed carrier attributed its growing loss to the substantial decrease in rates and volumes and the increase in fuel prices.

While the company did not report its revenue for the quarter in the statement posted on its Web site, it said its operating income fell by 49.2 percent in the quarter.

It said its net cash flow from operations for the first nine months of the year fell by 532 percent from the same period last year to $783.6 million, which it attributed to the drop in operating income.

Contact Peter T. Leach at pleach@joc.com.