CSSC Shipping posted a net profit of HK $470 million in Q1

CSSC Shipping announced that for the three months ended March 31, 2022, the company's revenue was HK$768 million, a year-on-year increase of 62%; the net profit during the period was HK$470 million, a year-on-year increase of 69%.
 
The increase in revenue and net profit for the three months ended March 31, 2022 compared to the same period in 2021 was mainly attributable to the combined effect of:
 
(i) a significant increase in operating vessels from 95 as at 31 March 2021 to 130 during the same period in 2022;
 
(ii) The company's self-operated bulk carrier fleet continued to outperform, while revenue from the company's self-operated oil tankers increased significantly due to the recovery of the international tanker market.
 
Source: Xinde Marine News Sarah Yu

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