COSCO back in the black, with a little help from its state friends

//COSCO back in the black, with a little help from its state friends

COSCO back in the black, with a little help from its state friends

By | 2018-04-04T15:55:28+00:00 April 4th, 2018|feed news|Comments Off on COSCO back in the black, with a little help from its state friends

COSCO Shipping posted a net profit of $264m in 2017, reversing a loss of $1.1bn in the previous year, as it targets a June date for closing the $6.3bn takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL.
Turnover at the Chinese state-owned carrier leapt 30%, compared with the previous year, to $12.8bn, although revenue from the merger of Chinese Shipping Container Line (CSCL) was not consolidated …

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