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Strained container market drags Cosco down in 2023

The market could be a harbinger of what’s to come when the Red Sea crisis is resolved, writes Alphaliner.

Photo: Michael Probst/AP/Ritzau Scanpix

The Chinese Cosco Group, which includes Cosco Shipping and OOCL, has seen profits fall by 85% in 2023 compared to the previous year in a depressed container market with falling freight prices, writes shipping research firm Alphaliner.

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