Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Q3 profit falls for Cosco Corp

Q3 profit falls for Cosco Corp
Singapore: Cosco Corp reported a 17% fall in third quarter profit to S$26.6m in what the company described a “difficult business environment”.

The Singapore-listed, Chinese shipyard operator also reported a 3% fall in revenues year-on-year, which it blamed on declines in shipyard and dry bulk revenues.

“Our group expects business and operating conditions for the rest of 2012 to remain difficult amidst global economic uncertainties. To build sustainable growth in offshore and marine engineering operations, we will continue to focus on core technical competence and expertise to reach out to a wider customer base,” said Wu Zi Heng, vice chairman and president of Cosco Corp.

TAGS: shipbuilding
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.