Congestion and rates drove huge modal shift to air freight last year
Cargo owners increasingly switched from sea to air in 2021, with port congestion and a ...
As I wrote for Ti.com this week: “2018 was another year of growth of Sinotrans, albeit at a lower clip than one year earlier given subdued extraordinary corporate activity, which is also implied in its total assets value, down 1% to CNY*61.5bn ($9.2bn) last year. Revenues rose 5.7% to CNY77.3bn ($11.6bn), with total pre-tax profits up 9% to CNY4.1bn ($615m) and earnings per share surging 17.4% to CNY0.45, given CNY2.7bn of net income.”
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