COSCO SHIPPING Development Co., Ltd. — Earnings Release 2006

Nov 10, 2006

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(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 2866)

Unaudited Quarterly Operational Summary for the Third Quarter ended 30 September 2006

The Board is pleased to announce the unaudited operational summary of the Group for the third quarter ended 30 September 2006.

QUARTERLY OPERATIONAL SUMMARY

The board of directors (the “Board”) of China Shipping Container Lines Company Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce the unaudited operational summary of the Group for the third quarter ended 30 September 2006. Total container volume for the third quarter ended 30 September 2006 was 1,437,552 TEU, representing an increase of 19.4% as compared with the same period last year. Total revenue increased by only 9.0% as compared with the same period last year to RMB8,473,046,000 mainly because although the freight rate of trade lanes during the third quarter of 2006 had recovered slightly as compared with the first half of 2006, the overall level was still lower than that of the same period last year.

	CONTAINER VOLUME	CONTAINER VOLUME	(TEU)	TOTAL	REVENUE	(RMB’000)
			Increase/			Increase/
Principal market	Q3 2006	Q3 2005	decrease	Q3 2006	Q3 2005	decrease
North America	356,665	278,673	28.0%	3,539,995	3,044,836	16.3%
South America	21,789	16,017	36.0%	195,288	178,383	9.5%
Europe/Mediterranean	336,380	288,081	16.8%	2,293,256	2,628,894	-12.8%
Australia	45,890	53,479	-14.2%	319,506	365,263	-12.5%
Near ocean	167,399	144,227	16.1%	433,282	407,819	6.2%
Middle East	77,533	2,811	2658.2%	370,473	17,479	2019.5%
China domestic	388,040	352,209	10.2%	726,480	475,193	52.9%
Others	43,856	68,082	-35.6%	594,766	658,702	-9.7%
Total	1,437,552	1,203,579	19.4%	8,473,046	7,776,569	9.0%

In the third quarter of 2006, one new large container vessel with a capacity of 9,580 TEU was delivered. The Group’s operating capacity increased by approximately 2.2% from 371,204 TEU as at 30 June 2006 to 379,428 TEU as at the end of the third quarter. As at 7 November 2006, the Group’s operating capacity (including barge capacity) reached 399,645 TEU.

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		CAPACITY	INCREASE
Vessel Type over 4,000 TEU	Q3 2006	Q4 2006	Q1 2007	Q2 2007
	**(already **	**(expected to be **	**(expected to be **	(expected to be
	delivered	delivered)	delivered)	delivered)
	and put into	and put into	and put into	and put into
	operation)	operation)	operation)	operation)
9,580 TEU	1	2	2	2
Total (TEU)	9,580	19,160	19,160	19,160

CAUTION STATEMENT

The Board wishes to remind investors that the above operational summary for the third quarter ended 30 September 2006 is based on the Group’s internal records and management accounts and has not been reviewed or audited by the auditors. Investors are cautioned not to rely unduly on the above information. In the meantime, the Company advises investors to exercise caution when dealing in the shares of the Company.

By order of the Board China Shipping Container Lines Company Limited Li Shaode Chairman

Shanghai, the People’s Republic of China 9 November 2006

The Board as at the date of this announcement comprises of Mr. Li Shaode, Mr. Jia Hongxiang, Mr. Huang Xiaowen and Mr. Zhao Hongzhou (being executive directors); Mr. Zhang Jianhua, Mr. Wang Daxiong, Mr. Zhang Guofa, Mr. Xu Hui and Mr. Yao Zuozhi (being non-executive directors); and Mr. Hu Hanxiang, Mr. Gu Nianzu, Mr. Wang Zongxi and Mr. Lam Siu Wai, Steven (being independent nonexecutive directors).

* The Company is registered as an oversea company under Part XI of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong) under its Chinese and the English name “China Shipping Container Lines Company Limited”.

“Please also refer to the published version of this announcement in South China Morning Post”

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