The subsidiary of state-owned China Shipping Group, however, would have narrowed its losses compared to a deficit of RMB129.86m in the same period of last year.
Shanghai-listed CS Haisheng said that apart from the sluggish shipping market, the company is also reeling from high depreciation of its new vessels entering into service and increasing operating expenditures.
CS Haisheng operates a fleet consisting mainly of dry bulk carriers and a handful of chemical tankers and product tankers.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
