China Shipping Container Lines has reported a first half net profit of Rmb1.17bn, reversing a Rmb3.41bn net loss in the same period last year, Shipping Gazette reported.

The Hong Kong-listed company said that, despite a complicated business outlook, it remained confident about future prospects. “The recovery of major economies around the globe had led to a general increase in consumption, which stimulated transportation directly,” the company said. “Cargo volume of the group grew 11.6 per cent over that of the same period last year, thus idle shipping capacity was fully utilised.”