Productivity • Efficiency • Diversity
Produ ctiv ity • E ff ic i e n c y • D i v e r s i t y Annual Report 2008 2008 www.sinotranship.com Annual Report Company Profile Our Group is one of China’s largest shipping companies in terms of self-owned dry bulk fleet size. It owns and operates a modern fleet of vessels which mainly engages in dry bulk vessel time chartering, container vessel time chartering, crude oil shipping services, vessel technical management and other shipping related business. As at 31 December 2008, it operates a fleet of 36 vessels with an aggregate capacity of 1.73 million DWT and an average age of approximately 9.5 years. The Group’s fleet comprises 26 dry bulk vessels with an aggregate capacity of approximately 1.33 million DWT, one oil tanker with capacity of approximately 310,000 DWT, and nine container vessels with an aggregate capacity of 5,618 TEU. Dry bulk vessel time chartering is the core business of the Group. It operates a fleet of 26 dry bulk vessels, including two multi-purpose vessels, 7 Handysize dry bulk vessels, 6 Handymax dry bulk vessels and 11 Panamax dry bulk vessels, mainly for transportation of dry bulk cargoes such as iron ore, coal, grains, steel and other commodities along major trading routes in the world. Financial Highlights 2008 2007 US$’000 US$’000 % Change Results Revenues 455,972 302,217 50.9% Operating profit 285,549 134,510 112.3% Profit for the year 347,134 140,889 146.4% Net profit margin 76.1% 46.6% 63.3% Basic and diluted earnings per share US8.7cents US5.1cents 70.6% Dividends 112,763 (1) 252,301 (2) (55.3%) Financial Position Total assets 2,148,823 1,988,965 8.0% Total liabilities 149,912 282,422 (46.9%) Shareholders’ equity 1,998,911 1,706,543 17.1% Cash and bank balances 1,369,812 1,372,033 (0.2%) (1) Including the proposed final dividend of HK12 cents per share and interim dividend of HK10 cents per share.
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