China Shipping Container Lines posts sharp profit fall in 2009

China Shipping Container Lines Company Limited (CSCL) on Thursday posted a loss of 6.49 billion yuan (950.31 million U.S. dollars) in 2009, down from a net profit of 134.69 million yuan in 2008. Revenues fell to 19.94 billion yuan from 2008’s 35.25 billion yuan, a year-on-year decline of 43.4 percent, said the company in a statement filed with the Shanghai Stock Exchange.