Haifeng International Sharply Increased Its Profit Growth In 2017

- Mar 26, 2018-

Haifeng International sharply increased its profit growth in 2017


Haifeng International's operating revenue in 2017 was US$1.348 billion, up 10.9% year-on-year; its profit for the period was US$190.1 million, a year-on-year increase of 53.1%.glenflange

 

According to the announcement, as of the year ended December 31, 2017, the global economic and trade growth rate was significant, and the Asian market also developed. Due to the increase in the volume of container shipping logistics business, the improvement of supply and demand in the transportation market has led to a gradual increase in freight rates. In addition, the Group's operating and management efficiency has been continuously optimized, and its annual results have been significantly improved.

 

Looking to the future, uncertainties in the global economy’s economic recovery, geopolitical and trade protection factors will lead to uncertainties in the economic situation. Therefore, Haifeng International will continue to implement business expansion plans in the Asian regional market.

 

In 2017, Haifeng International's container shipping and extended logistics business revenue was US$1.331 billion, an increase of 11.0% year-on-year. The increase was due to the combined effect of container shipping and extended logistics business; first, the container traffic increased by 8.9% from 2,912,000 TEU in 2016 to 2,385,900 TEU in 2017; the second was the average freight (excluding transfer slots) Fee income increased by 2.7% from $477.4/TEU in 2016 to $490.5/TEU in 2016.glenflange