China Merchants Energy Shipping H1 Net Profit Down 54.9%

China Merchants Energy Shipping (601872), an operator of tankers, bulk carriers and LNG carriers, recorded a 54.94 percent year-on-year fall in first half 2011 net profit

attributable to shareholders to 199 million yuan, with earnings per share of 0.06 yuan, reports 163.com, citing a company filing.
Revenue fell 1.35 percent to 1.35 billion yuan.
The company does not plan to distribute its profits.
According to the company, shipping charges of oil tankers and bulk cargo carriers fell in the first half while costs rose.
Source: Capital Vue