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Shipping lines in trouble

[intro] China Shipping , OOCL and Cosco fall heavy due to continuing worries over European economic downturn. “The decline reflects investors’ concern about the European turmoil,” said Lawrence Li. [/intro]

China Shipping Container Lines Co. (2866), the nation’s second-biggest cargo-box carrier, plunged the most in almost seven months because of concerns Europe’s economic recovery may wane and about lines’ inability to raise rates. The operator dropped as much as 9.9 percent in Hong Kong trading, the biggest intraday decline since Oct. 18.

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