The company said in a stock market announcement that it is "expected to record a net profit for the six months ended 30 June 2017 as compared to a net loss in the same period of last year".
Explaining the better results, Cosco said: "During the reporting period, the container shipping market mildly recovered, and benefitting from the firmly recovering market and integration synergies, the overall operation conditions of the company retained positive momentum."
Cosco noted that average freight rates had risen compared to the corresponding period and cargo volume had also increased by 35% as compared to the same period of last year, and its profit had sustaintedly grown since the fourth quarter of last year.
It warned however that this was a preliminary estimate and had not been and "the company has yet to finalize the interim results of the group for the six months ended 30 June 2017".
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