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Cosco continues to grow – but profit dwindles

China's Cosco lifted its revenue significantly in a 2018 marked by a trade dispute and declining global economic growth, which caused profits to drop.

Bloomberg
Photo: Bloomberg

China's biggest shipping group, Cosco, grew in 2018, a year which brought the acquisition of Hong Kong-based OOIL, making the group the third-largest container carrier in the world.

Revenue in both Cosco's container and tanker business thus grew significantly in the past year, shows the financial reports for the two business units.

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