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Cosco Shipping expects return to profit for 2017

From Seatrade Maritime:

Cosco Shipping Holdings said it is benefitting from the recovery in the container shipping market and is expected to turn in a RMB2.7bn ($426.5m) net profit for 2017, turning around from a RMB9.9bn loss the previous year.

The group also noted that after its massive consolidation and restructuring exercise, the capacity of its liner unit Cosco Shipping Lines expanded significantly and this was supplemented by the increase in delivery of new vessels.

“The layout of shipping routes were further optimized. The average income per unit and the cargo volume of the container shipping business increased as compared to the same period of last year and the operational benefits were enhanced,” Cosco said.

More at Seatrade Maritime

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