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China Shipping profit up 44%

¡¡¡¡It is reported that China Shipping Development Co for the first half year of 2008 profit up by 44% year on year as demand for vessels to transport fuels and metals rose in the world's fastest growing major economy.
¡¡¡¡China Shipping Development Co in a statement to the Shanghai Stock Exchange said that its net income climbed to RMB3.18 billion from a restated RMB2.21 billion. Mr Li Shaode chairman of China Shipping Development Co said that China Shipping will spend RMB 23 billion over the next five years on new vessels to benefit from demand for cargo transport.
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