China Tells

Cosco (China Ocean and Shipping Co.) is the world’s biggest shipping company and is a proud of China’s shipping industry. It is also one of China’s biggest state owned enterprises that is listed in Shanghai and Hongkong. The fate of Cosco in 09, however, is much more difficult than one would imagine (See Article from Beijing Review). According to its quarterly report, the operating revenue in Q1-Q3 09 dropped almost 60% compared to last year. Cosco is not alone among China’s shipping companies that face difficulties. Most breakbulk vessel operaters and container lines went through hard times as BDI corrected in 08 (See Article from Chinatells). The global container freight normally goes with BDI hand in hand. In addition, there are record numbers of vessels coming out of the ship yard in the next 2 years thanks to the orders that were made 5 years ago. The winter seems not over yet for the shipping companies.

中远集团是中国最大的船运公司之一,也是全球500强之一.根据中远集团最近的极度报表,其营业收入较上年下降了60%左右,显示出这家巨无霸企业在全球运费不振的环境下处境困难.其实中远也不是唯一遭殃的企业,整个航运行业由于前几年过渡膨胀以及全球经济的萧条都受到很大冲击.如何安然度过困难期将是所有这些船运公司需要应对的难题.