AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 129.86 Decreased By ▼ -1.36 (-1.04%)
BOP 6.78 Decreased By ▼ -0.03 (-0.44%)
CNERGY 4.66 Decreased By ▼ -0.05 (-1.06%)
DCL 8.41 Decreased By ▼ -0.03 (-0.36%)
DFML 41.01 Decreased By ▼ -0.46 (-1.11%)
DGKC 82.00 Decreased By ▼ -0.09 (-0.11%)
FCCL 33.00 Decreased By ▼ -0.10 (-0.3%)
FFBL 72.00 Decreased By ▼ -0.87 (-1.19%)
FFL 12.35 Increased By ▲ 0.09 (0.73%)
HUBC 109.92 Decreased By ▼ -0.82 (-0.74%)
HUMNL 14.45 Decreased By ▼ -0.06 (-0.41%)
KEL 5.19 No Change ▼ 0.00 (0%)
KOSM 7.62 Increased By ▲ 0.01 (0.13%)
MLCF 38.85 Decreased By ▼ -0.05 (-0.13%)
NBP 63.70 Decreased By ▼ -0.31 (-0.48%)
OGDC 191.00 Decreased By ▼ -1.82 (-0.94%)
PAEL 25.60 Decreased By ▼ -0.08 (-0.31%)
PIBTL 7.40 Increased By ▲ 0.06 (0.82%)
PPL 152.00 Decreased By ▼ -2.07 (-1.34%)
PRL 25.57 Decreased By ▼ -0.26 (-1.01%)
PTC 17.61 Decreased By ▼ -0.20 (-1.12%)
SEARL 81.50 Decreased By ▼ -0.80 (-0.97%)
TELE 7.76 No Change ▼ 0.00 (0%)
TOMCL 33.46 No Change ▼ 0.00 (0%)
TPLP 8.49 No Change ▼ 0.00 (0%)
TREET 16.60 Decreased By ▼ -0.02 (-0.12%)
TRG 56.90 Decreased By ▼ -0.50 (-0.87%)
UNITY 27.51 No Change ▼ 0.00 (0%)
WTL 1.36 Decreased By ▼ -0.01 (-0.73%)
BR100 10,470 Decreased By -34 (-0.32%)
BR30 31,007 Decreased By -219.2 (-0.7%)
KSE100 97,775 Decreased By -304.6 (-0.31%)
KSE30 30,395 Decreased By -163.4 (-0.53%)

China Shipping Container Lines Co aims to list in Shanghai before the end of 2007 to buy container assets from its state parent and fund a 44-percent fleet expansion by early 2012, a senior executive said.
Known as CSCL, the world's No. 6 container ship operator had planned to issue up to a fifth of its enlarged share capital, worth US $1.4 billion based on current prices. Executive Director Huang Xiaowen said on October 15 the firm's listing of A shares in Shanghai was on track to finish before the end of this year.
Shares of CSCL rose 8 percent to a record in the morning after it reported last week a 30 percent rise in third-quarter revenue to 11.04 billion yuan ($1.47 billion). About two-thirds of the money raised from the new shares will go towards buying ships to lift capacity to over 630,000 20-foot-equivalent units (TEU) in 2012 from 437,000 TEU at the end of September, Huang told Reuters.
"We ordered eight 13,300 TEU container vessels from South Korea's Samsung Heavy, with the first to be delivered in 2010," Huang said in a telephone interview. The 13,300 TEU-vessel is the largest in the world. Ship operators are looking for bigger and bigger ships to serve booming trade and save costs.

Copyright Reuters, 2007

Comments

Comments are closed.