COSCO boss positive about profit prospects

Shipping giant China COSCO Holdings expects better financial results for the second half of this year.

“We will aim to achieve a profit this year,” said the Chairman of China Ocean Shipping, Wei Jiau, the listed company’s parent.China COSO had an unaudited net loss of US$490.8 million for the first quarter, compared with a net profit of US$898.6 million a year earlier.Captain Wei also said the parent company’s key dry bulk operations are at a break-even level. China COSCO is the listed flagship of China Ocean Shipping, China’s largest shipping operator by revenue.

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