Although the shipping boom has been lowered, the performance of China Merchants Energy Shipping has maintained a strong growth. In the first three quarters of this year, the company's net profit has increased 1.57 times year-on-year.
CMES announced on October 19 that in the first three quarters of this year, the company achieved operating income of 21.579 billion yuan, an increase of nearly 30% year-on-year, and the net profit attributable to shareholders of the listed company was 3.865 billion yuan, an increase of about 66% year-on-year. Net profit increased by 1.57 times year-on-year.
The profit contribution of the dry bulk fleet in the first three quarters exceeded 2 billion yuan for the first time, and the net profit reached 2.050 billion yuan, a year-on-year increase of 32.17%, significantly outperforming the market index.
Driven by the international LNG trade boom, the LNG ship business has attracted much attention. According to CMES, in the first three quarters, the company's LNG transportation net profit reached 496 million yuan, a year-on-year increase of about 11.46%.
CMES has 14 LNG ship orders, with the deadweight of 1,137,200 dwt. The joint venture has 21 ships with a deadweight of 1,655,600 dwt.
Source: Xinde Marine News Sarah Yu
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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