China Shipping Development Company Limited is an investment holding company. The Company is principally engaged in the shipment of oil and cargoes along the coast of the People's Republic of China and internationally. The principal activities of the Company鈥檚 principal subsidiaries and jointly controlled entities are oil and cargo shipment, and vessel chartering. The Company operates in three segments: oil shipment; dry bulk shipment; which consists of coal shipment and other dry bulk shipment, and rental income from vessel chartering. During the year ended December 31, 2010, the Company achieved a shipping volume of approximately 160.74 billion ton-nautical miles of oil shipment. The Company has six jointly-controlled entities: Shanghai Times Shipping Co., Limited; Shanghai Friendship Marine Co., Limited; Huahai Petrol Transportation & Trading Co., Limited; Guangzhou Development Shipping Co., Limited; Shenhua Zhonghai Marine Co., Limited, and China Shipping Finance Co., Limited.