Cosco heralds significant full-year deficit

One of Chinas biggest shipping group's, Cosco Corp., is now heralding a major deficit in the fourth quarter and a significant loss for the full-year 2015. The oil price and dry bulk sector are hurting the group's businesses.

Cosco Corp. is hit hard on virtually all fronts, and the group's board of directors is now warning of a significant net deficit in the fourth quarter 2015 and a negative result for the full year, informs state-owned Cosco Corp. in a brief statement on Wednesday.

The major shipping group's key businesses include shipyards and shipbuilding, container shipping and dry bulk operations - and all three markets are under extreme pressure these years.

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