Cosco juggled its way to a profit

Chinese shipping giant Cosco booked USD 600 million in profits from real estate divestemnts over operations to container and dry bulk activities, says Alphaliner.

China Cosco lost a total of USD 210 million last year on operating its container carrier Cosco Container Lines (Coscon) and from the company's dry bulk activities. But the total operating loss would have been much greater if China Cosco had opted not to book major profits from the company's divestment of real estate in Shanghai and Qingdao directly on its container carrier operations and other subsidiaries in China Cosco, according to a detailed review of China Cosco's annual report 2013, performed by Alphaliner.

2013 marked the third consecutive year with a massive operating loss for Cosco Container Lines (Coscon).

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