16 new ships for container fleet
China Shipping Container Lines will take delivery of 16 new container ships, totalling 150,400 teu (20-foot equivalent units), by the end of 2012, chairman Li Shaode confirmed yesterday. But while the total container carrying capacity will increase to 570,916 teu by next year, the number of container ships in the fleet will fall to 122, down from 143, as smaller ships are removed. He said the company would increase its investment at two container terminals. It saw a net profit of 4.2 billion yuan (HK$4.98 billion) last year, compared with a 6.5 billion yuan net loss in 2009.