Helped by an improving shipping market, China's COSCO Shipping Holdings expects to post a profit of approximately 1.85 billion yuan (US$272 million) for the first half of 2017. During the same period in 2016, the company recorded a loss of 7.2 billion yuan.
Freight rates for container shipping operations have increased year-on-year, container volumes have grown 34.72 percent, and earnings have continued to grow from the base set in the fourth quarter of last year.- COSCO Shipping Holdings
In recent months, container shipping leaders have said that the global shipping industry is emerging from a prolonged slump. In May of 2017, CMA CGM posted its second straight quarterly profit.