January 6, 2008 / 11:50 PM / 12 years ago

China Shipping says 2007 earnings up over 65 pct

SHANGHAI, Jan 7 (Reuters) - China Shipping Development Co Ltd (600026.SS) on Monday reported a 65.45 percent jump in 2007 earnings, profiting from robust global demand for coal.

The oil and coal carrier booked a 4.65 billion yuan ($639.4 million) net profit in 2007 based on Chinese accounting standards, it said in a preliminary earnings statement.

Sales rose almost 35 percent to 12.54 billion yuan.

Shares in China Shipping more than tripled in 2007, compared to a 97 percent rise in the benchmark Shanghai Composite Index .SSEC. ($1=7.272 Yuan) (Reporting by Sophie Taylor; Editing by Tomasz Janowski)

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