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HomeMaritime NewsRegionsAsiaCSCL posts massive Q1 losses

CSCL posts massive Q1 losses

CSCL posts massive Q1 losses
Hong Kong: China Shipping Container Lines (CSCL) saw first quarter losses rise nearly 10-fold to RMB1.45bn ($230.3m) from a RMB146.1m loss in the previous corresponding period.

CSCL blamed the loss on the weaker operating environment of higher costs coming on the back of flat revenues. 

First quarter revenues came in at RMB6.45bn, a touch lower than the RMB6.53bn last year. Operating costs however shot up about a fifth from RMB6.7bn to RMB8.1bn as higher fuel, among other costs, took their toll.

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