Reuters reported that China COSCO Holdings flagship of the country premier shipping firm returned to the black in the second quarter as the global shipping market rebounded from record losses in 2009.
China COSCO which operates the world’s largest bulk cargo fleet and is the No 7 container shipping firm globally reported a profit of CNY 2.64 billion for April to June based on Chinese accounting standards. … China COSCO made a profit of CNY 3.53 billion for the first six months versus restated net loss of CNY 4.65 billion a year ago.