China Shipping Profit Soars.(China Shipping Container Lines)(Financial report)

BYLINE: Peter T. Leach

China Shipping Container Lines reported its first-half net income rose to 1.16 billion yuan ($153 million) from the $10.7 million it earned in the same period a year ago as both freight rates and volumes rose.

Revenues increased 24 percent to $2.38 billion, of which 31 percent came from Asia-Europe shipments.

China Shipping's cost per container shipped fell 7 percent in the first half from a year earlier, as it used larger vessels and paid less for fuel because of falling prices, the company said.

Revenues on the company's Asia-Europe routes rose 31 percent to $713 million in the first half. On its trans-Pacific trade …