COSCO issues profit warning for 2012

Markets

Monday, January 28, 2013

China COSCO Holdings Co. Ltd. has issued a profit warning , stating it expects "to record a significant net loss" for 2012 in contrast to its profit of 10.4 billion Chinese yuan renminbi ($1.7 billion) in 2011. In a statement issued to the Hong Kong Stock Exchange, COSCO said the expected loss "is primarily due to the imbalance between supply and demand in the international shipping market. Although the freight rates in the container shipping market had rebound...

You have requested access to content only available to Registered Users of American Shipper. You can become a registered user for FREE. You will not have access to premium content.

Your registration to American Shipper is FREE and will provide you access to much of the content on the American Shipper Web site. You will not have access to Premium Content.

SUBSCRIBE NOW
Access to premium content, original reporting, research, and feature stories require a paid subscription. Subscriptions to American Shipper costs $120 a year. Your subscription includes unlimited access to content on the American Shipper Website, early access to the digital edition of the monthly magazine, and the daily AS+ premium newsletter published each morning.