ShippingWatch

State aid offset China Cosco's setback in 2015

The newly-merged Chinese shipping group noted a sliding result in 2015, though state aid from the government softened the blow considerably. Continued imbalance in the container market going forward, says the company.

Photo: PR-foto

China Cosco Holding's shipping business was hit big-time by the weak bulk and container markets in 2015, but large-scale state aid from the Chinese government hit a dry spot and softened the blow, report several media citing the carrier's annual report.

The group's revenue came to 57.4 billion yuan, around USD 8.8 billion, down 14.2 percent against 2014.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs