Changhang Phoenix to do well in H1

Changhang Phoenix, a bulk carrier operating unit of Sinotrans&CSC, predicted on 28 April that it would remain in the black for the first half of 2015, as it seeks to resume the trading of company shares on the Shenzhen Stock Exchange.
In the first three months in 2015, the company’s profit slumped

VLGC rates near USD100/tonne again

Rates to haul LPG on very large gas carriers (VLGCs) on the benchmark Gulf-Asia Pacific route are touching USD100 per tonne again, as more tonnage is being diverted to the West-of-Suez.
As of 27 April, the Baltic Exchange assessed the benchmark rate at USD96.313/tonne, up from USD88.25/tonne on 20

COSCO Shipping back to black in Q1

Shanghai-listed COSCO Shipping, the first listed subsidiary of COSCO Group, posted a profit of CNY253.5 million for the first quarter of 2015, returning to black from a loss of CNY13.1 million in the first quarter of 2014.
The company’s revenue in the first quarter of 2015 totalled CNY1.88 billion,