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China Merchants Energy Shipping profit down 72.2% in 2009
(Xinhua)
Updated: 2010-03-08 10:43
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BEIJING - China Merchants Energy Shipping Co, a major Chinese international oil tanker operator, said Saturday its annual net profit in 2009 slumped 72.2 percent from a year earlier.
The shipping operator raked in 343 million yuan ($50.2 million) last year, bringing earnings per share down 72.2 percent to 0.1 yuan, according to the company's short statement filed to the Shanghai Stock Exchange.
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The company did not elaborate on the losses.
China's shipping industry suffered a blow last year as the overseas shipment shrunk due to global economic downturn.
Data from the General Administration of Customs showed the nation's foreign trade shed 13.9 percent from a year earlier to 2.21 trillion U.S. dollars in 2009.
