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Cosco Shipping International forecast profit rise for 2018

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The rebound among Chinese shipping companies is extended to service providers too as evident from Cosco Shipping International’s profit forecast upgrade for full-year 2018.

Cosco’s services arm said in a stock market announcement that 2018 net profit was “expected to increase significantly and record an increase of not less than 40% as compared with that of the year ended 31st December 2016”.

The company attributed the the expected increase mainly to the increases in exchange gains and net finance income.