ShippingWatch

China Cosco exits first quarter with major deficit

The container business of newly merged Chinese shipping group Cosco/China Shipping suffered a major loss in the first three months of the year, particularly attributed to the sale of dry bulk activities as part of the large-scale merger.

Photo: PR-foto

Chinese container carrier China Cosco Holdings Co, part of newly merged shipping conglomerate Cosco China Shipping, finished the first quarter of the year with a significant deficit.

CCSC, which consists of the merged container activities from the former China Cosco and China Shipping Container Lines (CSCL), suffered a net deficit of 4.48 billion yuan, around USD 691 million, compared to a deficit of around one billion yuan in the same period 2015, according to an interim report from parent company China Cosco Holdings CO (CCHC), published Friday.

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