Shares of China Shipping Container Lines (2866), the mainland's second- largest container line, saw first-half net profit slumped 96 percent to 81.19 million yuan (10.15 million US dollars), The Standard reported. Chairman Li Shaode attributed the profit slump to rising operating costs and falling freight rates. "Average closing price of crude oil in the fuel market rose by about 30.2 percent compared with the same period last year, resulting in an increase in our fuel costs by about 771 million yuan (96.4 million US dollars). Average container costs also increased 23.4 percent, but the overall freight rates decreased," said the paper, quoted Li as saying. Turnover rose 3.5 percent to 13.9 billion yuan from 13.4 billion yuan (1.68 billion US dollars). Operating costs increased 25 percent to 13.3 billion yuan (1.66 billion US dollars). Revenue fell 1.5 billion yuan (187 million US dollars). Gross profit margin slumped to 4.3 percent from 20.7 percent.