Cosco reports 2012 loss

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Luisa Cheshire

BY LUISA CHESHIRE

Cosco reports 2012 loss

Chinese container shipping company Cosco has reported further losses in 2012 due to market volatility

Cosco reports 2012 loss

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China Cosco, the largest shipping company in China, has reported a loss of 9.56bn yuan (US$1.5bn) on revenue of 72bn yuan (US$11.6bn) in 2012, which comes after its even bigger loss of 10.45bn yuan (US$1.7bn) in 2011, reports Reuters.

With two years in the red, it has become the biggest “Special Treatment” company on China’s stock market, a signal the company may eventually be delisted, the article said.

China Cosco cited market volatility as the cause for its loss in 2012, including low shipping costs and rising fuel prices. 

 

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