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|  | | China Shipping 2007 net profit jumps 66% |
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¡¡¡¡Oil and coal carrier, China Shipping Development, is reporting 2007 net profits as jumping a staggering 66% following a venture, late last year, into the iron ore business. Profits for last year have jumped from 2.8 billion yuan in 2006 to hit 4.6 billion.
¡¡¡¡China Shipping Development says the big jump in earnings is largely due to expansions in its core business of ocean shipping. In any case, the fast-growing economy has meant much higher demand for oil, coal and iron ore.
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