China Shipping Development Company Limited provided consolidated earnings guidance for the year ended December 31, 2013. For the year, the company expects loss attributable to the equity holders of the company could be in the range between RMB 2.1 billion to RMB 2.3 billion. Such a loss in the consolidated net profits of the group was mainly due to the sluggish demand and over supply of shipping capacity in the international and domestic shipping market in 2013, and which in turn resulted in the continuous decline of the shipping market and the downturn in the freight rates.