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28/08/2015at 14:04

Profits dive at China's merger-ready CSCL

Earnings declined almost 100 percent in the first half of the year for China Shipping Container Lines, which looks on track for a merger with China Cosco.
Photo: Seanews.com
BY OLE ANDERSEN

Earnings at China's second-largest container carrier, China Shipping Container Lines (CSCL) - which currently looks like a clear candidate for a merger with similarly state-controlled China Cosco - took a big dive in the first half of the year. The carrier delivered a modest profit of 10.6 million yuan, around USD 1.7 million, corresponding to a 97.5 percent decline from the same period last year.

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