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.
According to Alphaliner, China Cosco will continue to lose money on its operations this year as well, with an expected deficit of USD 400 million from the group's container business.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.