Red ink to black
By Ding Yining |
March 31, 2011, Thursday
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Print Edition
Print Edition
CHINA Cosco Holdings Co returned to net profit last year as a rebound in global trade lifted demand for container shipping and dry bulk transport.
The country's largest shipping company sailed to a 6.9 billion yuan (US$1.05 billion) profit in 2010 from a net loss of 7.5 billion yuan a year earlier. The company's container throughput rose 18.7 percent year on year to 6.2 million TEUs (twenty-foot equivalent units), according to a statement the shipper filed to the Shanghai Stock Exchange yesterday. It predicted a 9.4 percent rise in container volume this year to 6.8 million TEUs.
The country's largest shipping company sailed to a 6.9 billion yuan (US$1.05 billion) profit in 2010 from a net loss of 7.5 billion yuan a year earlier. The company's container throughput rose 18.7 percent year on year to 6.2 million TEUs (twenty-foot equivalent units), according to a statement the shipper filed to the Shanghai Stock Exchange yesterday. It predicted a 9.4 percent rise in container volume this year to 6.8 million TEUs.
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