CSSC Shipping announced that for the three months ended March 31, 2022, the company's revenue was HK$768 million, a year-on-year increase of 62%; the net profit during the period was HK$470 million, a year-on-year increase of 69%.
The increase in revenue and net profit for the three months ended March 31, 2022 compared to the same period in 2021 was mainly attributable to the combined effect of:
(i) a significant increase in operating vessels from 95 as at 31 March 2021 to 130 during the same period in 2022;
(ii) The company's self-operated bulk carrier fleet continued to outperform, while revenue from the company's self-operated oil tankers increased significantly due to the recovery of the international tanker market.
Source: Xinde Marine News Sarah Yu
The increase in revenue and net profit for the three months ended March 31, 2022 compared to the same period in 2021 was mainly attributable to the combined effect of:
(i) a significant increase in operating vessels from 95 as at 31 March 2021 to 130 during the same period in 2022;
(ii) The company's self-operated bulk carrier fleet continued to outperform, while revenue from the company's self-operated oil tankers increased significantly due to the recovery of the international tanker market.
Source: Xinde Marine News Sarah Yu
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