China Shipping Container Lines recorded a 51.5 per cent fall in revenue to Rmb8.92bn in the first half of 2009 compared with the same period in 2008. Container volume dropped 11.4 per cent to 3.18m teu.

Net loss attributable to equity holders for the period amounted to Rmb3.41bn. This was despite the adoption of various cost-saving measures that reduced its outgoings by nearly 30 per cent year-on-year. For example, the company has cut the number of transhipment lanes and port calls and repositioned containers from Europe and the US to Asia, where storage costs are lower. Port and stevedore charges decreased by 32 per cent compared with the same period last year.

The company’s performance is set in the context of an industry that continues to suffer from the global economic downturn. Chinese ports recorded a container throughput of 66.7m teu between January and July, down 9.9 per cent year-on-year, Xinhua reported. However, cargo tonnage rose 3.5 per cent to 2.7bn tonnes.