China Knowledge reported that Sinotrans Shipping Ltd profit attributable to equity holders fell 69.4%YoY to USD 106.39 million in 2009 from USD 347.13 million in 2008.

Revenue plummeted 49.8%YoY to USD 229.11 million from USD 455.97 million. Operating profit was USD 86.79 million down by 69.6% from USD 285.55 million.

As of the end of 2009, the enterprise total assets had slid 3.4%YoY to USD 2.08 billion from USD 2.15 billion.

Mr Tian Zhongshan Board Chairman and General Manger said that the firm's cargo throughput is expected to surge 53.12% to 2.94 million tons from last year's 1.92 million tons due to surviving business in the transportation of chemicals and bulk cargo.

He said that Sinotrans Shipping capital expenditure for 2010 is predicted to reach USD 295 million.

(Sourced from China Knowledge)