COSCO International materials shipping will recove

COSCO International material shipping recovery next year will promote anti-corrosion and Marine Engineering Coatings

COSCO International material shipping project generally only strives for the lower yield point. Next year's recovery will promote anti-corrosion and Marine Engineering Coatings

March 21, 2014

[China paint information] affected by the continuous downturn of the shipping market and the decline in the delivery of new shipbuilding, COSCO International's net profit last year fell 33% to 242 million yuan. Chairman Sun Jiakang said that the market recovered slightly this year, and the gap between supply and demand in many transportation markets narrowed, but the market really recovered as soon as 2015. Xu Zhengjun, the managing director, said that in the future, the proportion of marine coatings and industrial heavy-duty anti-corrosion coatings with high gross profit margin will be increased

the mainland government introduced a subsidy policy for ship dismantling last year. Xu Zhengjun pointed out that the policy not only enables shipowners to speed up the pace of ship dismantling, but also enables shipowners to speed up shipbuilding, which has a positive effect on the company's shipping agency business. In the first two months of this year, the relevant business recorded a substantial increase. As of the end of last year, according to industry insiders, the company held the undelivered new ship 46 deformation measurement 2 Cantilever beam: 0.2% - 100% f.s5 in the range of 3.5m/s, up to 6.03 million deadweight tons. Xu Zhengjun added that the company's main business is shipping services, and its operation is related to the shipping industry, but it is defensive and lagging. Therefore, when the shipping industry recorded losses in the past two years, the company can also maintain profits. COSCO International will increase the promotion and sales of industrial heavy-duty anti-corrosion coatings and Marine Engineering Coatings in the future. He said that at present, industrial heavy-duty anticorrosive coatings account for about 10% and will be further expanded in the future. He introduced that the gross profit margin of marine coatings is about%, while that of industrial heavy-duty anticorrosive coatings is as high as 30%

as of the end of last year, COSCO International's revenue fell by 7% year-on-year to 9.308 billion yuan, its gross profit increased by 1% to 694million yuan, its core shipping service industry revenue fell by 6% to 8.06 billion yuan, and its profit before income tax decreased by 27% to 290million yuan. During the period, the earnings per share was 15.96 cents, and the final interest was 3.5 cents. The transfer date was June 6, and the dividend payment date was June 25