China Shipping Container Lines (HKG:2866) has warned that it expects a net loss attributable to equity holders for the year ended 31 December 2011, as compared with a net profit recorded by the company for the year ended 31 December 2010.

The net profit recorded by the company attributable to equity holders of the company prepared based on China Accounting Standard for Business Enterprises amounting to RMB4.203 billion and earnings per share amounting to RMB0.3598 for the year ended 31 December 2010.

Such expected loss for the year ended 31 December 2011 is mainly attributable to the adverse effect of the slow recovery of the economy in the United States, enlarged debt crisis in Europe, slow down of the economic growth in China, growth of demand in the international container transportation market was slowed down, reduction in container transportation fee and volume and dramatic increase in the oil price.

The group's annual results for the year ended 31 December 2011 are expected to be released in March 2012.

Source:chinesestock.org