Cosco Pacific saw profits decline

Chinese containergiant Cosco's port business Cosco Pacific achieved a smaller profit in the 1st half of of the year.

Chinese Cosco Pacific achieved a net result of USD 144 million in the first half of the year, down 3.6 percent compared to the same period 2012, according to Cosco Pacific's interim report for the first half of 2013, published Tuesday.

The decline is attributed to rising costs combined with a prolonged dockers' strike at the company's Hong Kong terminal.

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