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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