China Ocean profit 3.5 billion

Benefiting from the international economic recovery and the pick-up in the shipping market, COSCO China achieved a turnaround in the first half.　　The semi-annual report today showed that the company realized operating income of 38.19 billion yuan in the reporting period, an increase of 65% per cent, and the net profit attributable to the parent company was 3.526 billion yuan, an increase of 176% year-on-year, and a basic earnings of 0.35 yuan for each share. In the first half of the year, the container shipping market volume rises, the transportation demand is exuberant. China Ocean-owned container business to complete the freight volume of 2.95 million boxes, an increase of about 25% per cent, to achieve operating income of 18.74 billion yuan, an increase of 88%.　　The company takes positive measures to promote the recovery of freight rates and the imposition of surcharges. During the reporting period, the overall status of the international dry bulk shipping market was better than last year, but the volatility of the market was significantly increased. China Ocean continues to promote the strategy of big customers, steadily expanding the proportion of the basic supply.　　As of June 30, the company's dry bulk operating day lock ratio of 70%, each ship-type locked period of rent than the 2009 average level of increase of about 40%. As of June 30, China Ocean operated 150 container ships, 597,000 standard boxes. Looking to the second half of the year, Cosco believes that the overall shipping situation will be better in 2009, and that the shipping market will continue to fluctuate in the recovery and develop in the volatility.