• Mon
  • Dec 29, 2014
  • Updated: 8:34pm


Sinotrans sees shipping recovery as profit increases

Despite rising profit, freight rates are stagnant. Photo: Bloomberg

Sinotrans saw its net profit increase 15 per cent year on year to 449.8 million yuan (HK$562 million) in the first six months of the year as losses from its marine transport unit narrowed by 74 per cent over the period.

Friday, 23 August, 2013, 5:45am

Delisting looms for Sinotrans subsidiaries

Zhao Huxiang, Non-executive Director and Chairman of Sinotrans Shipping Limited. Photo: May Tse

Zhao Huxiang said Nanjing Tanker would be suspended from the Shanghai stock exchange this year if it reported a net loss for 2012, which would be its third consecutive negative result.

21 Mar 2013 - 5:20am

Sinotrans Shipping seeks bigger fuel-efficient fleet despite profit slump

Senior executives from Sinotrans Shipping are likely to start negotiations with shipyards later this year for orders of new dry cargo ships to boost its fleet of more fuel-efficient and environmentally friendly vessels.

24 Aug 2012 - 2:47am

Sinotrans to streamline assets as economic outlook worsens

Sinotrans is consolidating more than 4 billion yuan (HK$4.89 billion) worth of assets in its parent company to cut costs as the economic outlook deteriorates.

21 Aug 2012 - 3:56am

Sinotrans may get fresh parental injection

Freight forwarder Sinotrans could get a further injection of logistics-related assets from parent company Sinotrans & CSC by 2014 in a move that would shift all its logistics operations into the Hong Kong-listed subsidiary.

20 Aug 2011 - 12:00am

Sinotrans sees margin dip on volatility and cost of fleet expansion

Sinotrans Shipping expected its gross profit margin to fall this year as volatile market demand and expansion of its global fleet continued to impose pressure on the company.

12 Mar 2011 - 12:00am

Anglo-Eastern sailing towards 15pc growth

Anglo-Eastern Group, one of the world's biggest ship management companies, is targeting growth of 14 to 15 per cent a year on the back of rising interest by mainland firms to use professional managers to oversee day-to-day operation of their ships.

19 Jan 2011 - 12:00am

Sinotrans hopeful amid 66pc drop in earnings

Sinotrans Shipping, which posted a steep drop in profit and revenue for the first half, said it was optimistic about the dry-bulk shipping market for this year and next but feared significant market volatility.

13 Aug 2009 - 12:00am

Sinotrans targets rival couriers to cut losses

Sinotrans, the country's largest freight forwarder, says it will buy one or two private express courier firms on the mainland to help narrow losses in its domestic division.

3 Sep 2008 - 12:00am

Sinotrans plans asset-buying spree

Sinotrans, the country's largest freight forwarding company, plans to invest 10 billion yuan (HK$11.05 billion) in the next three years to strengthen its logistics business.

27 Mar 2008 - 12:00am

Sinotrans eyes used vessels to boost fleet

Strong demand for ore and coal spurs plan

Sinotrans Shipping, whose profits rose 18.4 per cent last year, may buy second-hand vessels and acquire a small shipping company to expand its bulk vessel fleet given the country's strong demand for iron ore and coal, its chairman says.

14 Mar 2008 - 12:00am

Sinotrans pledges strong earnings

After a dismal trading debut, shipper anchors hopes on surging demand

Management at mainland dry bulk carrier Sinotrans Shipping is putting on a brave face after the disappointing debut of the group's shares on the Hong Kong market on Friday.

26 Nov 2007 - 12:00am

Sinotrans Shipping IPO ties up HK$280b

Sinotrans Shipping has attracted 243 times oversubscription for the retail portion of its initial public offering, tying up about HK$280 billion, according to market sources.

Its institutional tranche, consisting of HK$10.3 billion worth of shares, was more than 75 times oversubscribed.

16 Nov 2007 - 12:00am

GCL-Poly gains but Zhong An's debut ill-timed

Mainland property stock offerings in Hong Kong are coming off the boil amid poor market sentiment, with Zhong An Real Estate putting in a lacklustre first-day performance.

Shares of the Hangzhou-based firm fell as much as 16.04 per cent before closing at HK$6.71 yesterday, a 0.6 per cent gain from its offer price and well below the debuts of other recent property listings.

14 Nov 2007 - 12:00am

Sinotrans institutional share offer 14 times oversubscribed

Strong demand also expected for retail tranche opening today

Listing candidate Sinotrans Shipping had drawn institutional orders of 14 times of available shares for its HK$11.5 billion initial public offering, despite soured market sentiment in the United States, sources said.

12 Nov 2007 - 12:00am