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COSCO Expects Profit of US$272 Million For First Half 2017

July 6, 2017 12:05 am Published by

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.

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