Money gushing out of Cosco container carrier

Selling companies and office buildings could help secure the struggling Chinese state-owned giant Cosco a positive result in 2013, but the container carrier is still losing money on a massive scale, says Alphaliner.
BY OLE ANDERSEN

A fire sale of office buildings in Shanghai and other places now looks like it might save one of the world's biggest shipping companies, Chinese Cosco, from the total humiliation of a forced exit from the Shanghai Stock Exchange by the end of 2013. Cosco has already divested its logistics company and a series of stakes as part of the efforts to avoid another deficit for the third year in a row, but the money continues to gush out of the group's container business, Coscon.

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