Cosco raised revenue despite virus outbreak

Chinese container line Cosco increased its revenue in the first quarter, although the period saw the most ravaging by the coronavirus in China. Volumes declined, but shipping analyst still deems the company financials strong.

Photo: Rodrigo Garrido/Reuters/Ritzau Scanpix

Despite the coronavirus ravaging China during the first three months of the year, Cosco managed to increase its revenue for the period, according to the Chinese shipping group's first quarter interim report, just published.

Revenue grew in the first three months of the year by 2.95 percent to CNY 36.1 billion (USD 5 billion). The operating result came to CNY 840 million, a drop from the same period last year, when the corresponding result was CNY 1.27 billion.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

Further reading

Related articles

Latest news

See all jobs