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Cosco in black following three deficit years

Chinese shipping conglomerate Cosco achieved a positive result in 2014 following three consecutive deficit years, according to Reuters.

Photo: PR-foto

Three deficit years are now in the past for Chinese shipping conglomerate Cosco as the carrier finished 2014 with a USD 809.26 million profit on the bottom line, says Chairman Ma Zehua in an interview with Chinese news agency Xinhua, according to Reuters.

Zehua informs that the company's operating profit increased two percent in 2014 compared to 2013, though he declined to mention specific numbers. But it seems fuel savings, in particular, had a big effect on the result. The company managed to save around USD 400 million on bunker last year:

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