Cosco Shipping locked in deficit spiral

The Chinese shipowner Cosco Shipping, which provides shipping services and is listed on the Shanghai Stock Exchange, has during the first half of 2013 had to accept an increased deficit, writes Sinoship News.

The shipping division with the Chinese major player Cosco Group has not done much to alleviate the troubles for the group. Following the first half of 2013, Cosco Shipping can present a deficit of 78 million yen (12.7 USD). That is triple the amount of the same period last year, which saw the company suffer a 23.6 Chinese yen deficit, writes SinoShip News.

The turnover increased a little to 3.5 billion Chinese yen.  

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