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China Merchants Energy Shipping's profit down 58.45% in H1

Jul. 17, 2012 (China Knowledge) - China Merchants Energy Shipping Co Ltd<601872>, the country's largest oil tanker operator by volume, saw its net profit attributable to shareholders hit RMB 82.72 million, reflecting a Y-o-Y decrease of 58.45%.

Basic earnings per share for the period plunged 63.79% from a year earlier to RMB 0.02.

The oil tanker operator said in a statement that its operating revenue for the six-month period rose 15.74% YoY to RMB 1.56 billion.

Last month, China Shipbuilding Industry Co Ltd<601989>, the country's largest shipbuilder, delivered a bulk carrier namely Pacific Argosy to China Merchants Energy Shipping Co, which was the final one of the 14 ships that China Merchants Energy Shipping Co ordered after the company was listed in the Shanghai Stock Exchange.

At present, the company's fleet capacity amounted to 7.1 million deadweight tonnage (DWT).

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