China Shipping Container Lines’ loss shrank 1.8 percent year-over-year, to RMB 1.3 billion (approximately US$205.6 million), in the first half of 2013.
The shipping company’s revenues rose 3.5 percent compared with the same period last year, to RMB 15.9 billion, according to its newly released interim results.
CSCL’s volume was down 1.6 percent year-over-year in January to June 2013, to 3,897,282 20-foot-equivalent units (TEUs).
The company said that its results reflected a struggle against adverse conditions, including a weak recovery in the world economy and international trade, characterized by “slow and sluggish growth.” Likewise, weak demand for freight transportation and overcapacity prevailed, such that the company was unable to raise rates for international trades during the second quarter.
On the domestic side, however, CSCL said it was able to achieve a rate increase of 8.7 percent compared with the first half of 2012. Domestic volume fell 11.8 percent year-over-year.
The throughput of CSCL’s container ports business rose 5.2 percent year-over-year during the period, to 10,700,000 TEUs in aggregate.