The Evaluation On Financial Performance Of Chinese Listed Shipping Company In Perspective Of Shipping Fleet

From the17th century to the21st century, the shipping industry has always been an important factor to accelerate the economic development; it not only promotes economic development of one country, but also accelerates the globalization process of the international trade. However, at this stage, the shipping industry is experiencing tremendous pressure to survive, the operating loss has become the most serious problem faced by many companies, according to the "Economic Information Daily", nearly70percent of our country’s shipping companies faced bankruptcy situation in2011, and this figure reached80%by2012. Many specialists conclude that the bad situation was mainly caused by excess capacity, which is the most fundamental reason of the loss. But it is not comprehensive, this aspect not only should be attributed to the impact that the Economic Crisis has on the demand of international trade, but also reflectes the unscientific reality of the company’s financial planning. Therefore, how to effectively manage the company’s financial, and keep the company’s normal operations, has been a key element for its sustainable development.As a scientific, objective and comprehensive evaluation method, corporate financial performance evaluation not only reflects the level of the company’s financial situation, but also becomes an effective tool for the managers to analyze the company’s financial condition, find the existing issues in the finance and investigate the reason. Therefore, it has good practical value in rectifying the financial position, improving the company’s financial management system, elevating the competitiveness of enterprises, and improving investment efficiency and so on.Through comparative analysis of the financial performance evaluation methods, the paper finally adopts data envelopment analysis (DEA) method to measure financial management status of the11listed shipping companies from2008-2012from a quantitative point, and summarize the financial performance characteristics of shipping companies. In addition, on the basis of researching financial performance of shipping companies macroscopically, in order to increase the practical value, this paper analyzes each shipping company’s financial performance systematically, and by comparing the data of different years, the paper concludes the reasons for the low finance performance, and makes recommendations about the future development of the shipping companies.Calculation results of DEA-TOBIT method are not absolute, but it can reflect relative level of corporate financial management. So as an important tool for the managers to fully and accurately grasp the status of corporate financial management, it is able to achieve enterprise investment rationalization, operational efficiency, standardized management and other important development goals.