Key Developments: China Shipping Container Lines Co Ltd (CITAY.PK)
13.02USD
22 May 2013
$0.48 (+3.83%)
$12.54
$13.02
$13.02
$13.02
137
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$17.19
$12.54
Latest Key Developments (Source: Significant Developments)
China Shipping Container Lines Co Ltd’s Subsidiary to Acquire Vessels from Hyundai Heavy Industries Co Ltd
China Shipping Container Lines Co Ltd announced that its Hong Kong-based container transportation subsidiary will acquire five 18,400 twenty-foot equivalent unit (TEU) container ships from Hyundai Heavy Industries Co Ltd, for USD 682,950,000 in total. Full Article
China Shipping Container Lines Co Ltd and Subsidiary to Provide Loan Guarantee
China Shipping Container Lines Co Ltd announced that it will guarantee a loan of USD 50 million (approximately RMB 313.4 million) for its wholly owned subsidiary, a Hong Kong-based container shopping company (Subsidiary A), with a term of three years. Subsidiary A will also guarantee credit lines of USD 45.50 million (approximately RMB 285.2 million) for its subsidiary, a Singapore-based oil company. Full Article
China Shipping Container Lines Co Ltd Does Not Recommend Dividend
China Shipping Container Lines Co Ltd announced that the directors do not recommend a dividend in respect of the year ended December 31, 2012 (2011: Nil) Full Article
China Shipping Container Lines Co Ltd Comments On FY 2012 Profit Guidance
China Shipping Container Lines Co Ltd announced that for fiscal 2012, it expected to record a net profit attributable to shareholders of the listed companies of approximately RMB520,000,000, turning around from a loss attributable to shareholders of the listed company for fiscal 2011. The Profit was mainly attributable to improvement in the shipping market trends in 2012, increased demand for container transportation and gradual recovery of freight rates. The Company was able to grasp the opportunities in these volatile markets and correctly predict market trends, thus implementing effective measures to maximize efficiency of trade lanes. Full Article
China Shipping Container Lines Co Ltd to Provide Loan Guarantee
China Shipping Container Lines Co Ltd announced that it will guarantee a loan of USD 150 million for its wholly owned subsidiary, a Hong Kong-based container transport company. Full Article
China Shipping Container Lines Co Ltd to Set up Joint venture
China Shipping Container Lines Co Ltd announced that it will invest USD 2.5 million to set up a joint venture in Sao Paulo, Brazil, with its wholly owned subsidiary, a Hong Kong-based container transport company, with each to hold a 95% and a 5% stake. Full Article
China Shipping Container Lines Co Ltd Does Not Recommend Interim Dividend
China Shipping Container Lines Co Ltd announced that the directors of the Company do not recommend the payment of an interim dividend for the six months ended June 30, 2012 (2011: Nil). Full Article
China Shipping Container Lines Co Ltd Announces Establishment Of Joint Venture Company
China Shipping Container Lines Co Ltd announced that on August 29, 2012, CSCL HK, the wholly owned subsidiary of the Company entered into the Joint Venture Agreement with CSD HK and CS Regional Holdings for the establishment of CS Petroleum Company in Singapore. The total registered capital of CS Petroleum Company is proposed to be USD5,000,000 (equivalent to approximately RMB31,695,500), out of which 91% shall be contributed by CSCL HK (i.e. USD4,550,000) (equivalent to approximately RMB28,842,905), 5% shall be contributed by CSD HK (i.e. USD250,000) (equivalent to approximately RMB1,584,775) and 4% shall be contributed by CS Regional Holdings (i.e. USD200,000) (equivalent to approximately RMB1,267,820). Such capital contributions shall be made in cash and in one tranche by the JV Partners within one month after completion of incorporation registration of CS Petroleum Company. Upon its establishment, the equity interests in CS Petroleum Company will be owned by the JV Partners proportionally according to their respective contributions mentioned above. As at the date of this announcement, CSCL HK is a wholly-owned subsidiary of the Company and China Shipping is the controlling shareholder of the Company. CSD HK is a wholly-owned subsidiary of CSDC, which in turn is a 30%-controlled company held by China Shipping. CS Regional Holdings is a wholly-owned subsidiary of China Shipping. Full Article
China Shipping Container Lines Co Ltd Announces Change of General Manager
China Shipping Container Lines Co Ltd announced the change of General Manager from Mr. Huang Xiaowen to Mr. Zhao Hongzhou, effective August 10, 2012. Full Article
China Shipping Container Lines Co Ltd to Set up Subsidiary in South Africa
China Shipping Container Lines Co Ltd announced that it will invest USD 2 million to set up a wholly owned subsidiary in Johannesburg, South Africa. Full Article
Hong Kong shares slip, China inches to a fresh 7-1/2 mth high
* China shipping rise after CSCL says 2012 profit expected
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