COSCO sees profit in 2013
Source: Xinhua |
March 5, 2013, Tuesday
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Print Edition
Print Edition
CHINA Ocean Shipping (Group) Co, the country's largest shipping firm which suffered heavy losses in the past two years, is confident of returning to profitability in 2013, its president Ma Zehua has said in Beijing.
"The market is very concerned about COSCO being delisted from the stock market and we are under great pressure," Ma said. "We will take effective measures."
COSCO said on January 25 it may report a large loss for 2012 - the second year of losses in a row. In 2011, COSCO lost 10.4 billion yuan (US$1.66 billion).
If COSCO records another loss in 2013, it risks being delisted from the stock market.
"The market is very concerned about COSCO being delisted from the stock market and we are under great pressure," Ma said. "We will take effective measures."
COSCO said on January 25 it may report a large loss for 2012 - the second year of losses in a row. In 2011, COSCO lost 10.4 billion yuan (US$1.66 billion).
If COSCO records another loss in 2013, it risks being delisted from the stock market.
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