A Study On Cash Flow Model Of Three Major Companies In China Shipping

In recent years, the shipping industry market downturn, recovery is weak, which is the excess capacity, lack of demand and increased competition in the market and industry characteristics of the decision itself. After the financial crisis, the shipping market demand continues to decrease, but in the constant delivery of new ships ordered before, resulting in idleness, turning back the shipping industry.This paper selects three leading enterprises China China Ocean shipping industry, CSCL and CMES cash flow comparative analysis of Chinese development of the shipping industry from a cash flow point of view, the innovative balance sheet, income statement and cash flow statement and Cash flow analysis combined to make cash flow analysis more comprehensive, objective and scientific. Firstly, methods and theories of domestic and foreign cash flow analysis, and from determining appropriate research methods. Secondly, empirical analysis, including shipping companies feature, sample selection and data sources, analysis system design and so on. Then, through the analysis of China COSCO, CSCL and CMES financial statements, calculate the corresponding analytical indicators to determine the development of production, debt operations, earnings growth and other aspects of performance, and comparative analysis of horizontal comparison analysis and vertical. Finally, get the status of China’s shipping industry and cash flow China COSCO, CSCL and CMES analysis results.Through research and analysis in this paper shows that, despite the 2014 demand has to pick up the international shipping industry, international oil prices have come down, reduce operating costs, but excess capacity, weak dry bulk shipping market situation has not changed, and the average tariff 2013 It was essentially flat. With the introduction of the national scrapping subsidies, the shipping industry as a whole a modest rebound, but the market is still low levels, China COSCO, CSCL and cash flow statement CMES is still far from satisfactory.