The Chinese shipping firm said the net loss will likely be between RMB245m ($38.9m) to RMB255m in the three months ended 31 March 2012. The company had recorded a net loss of RMB833m in the whole of 2011.
The anticipated poor results of CSC Phoenix are due mainly to low domestic river demand and high bunker fuel prices, amid low freight rates.
CSC Phoenix had earlier revealed that it has run out of cash to invest in building new ships and it may face bankruptcy if it is unable to reverse its weak financial position by this year.
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