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Coscol sees strong Q3 but loss in first nine monthsCoscol sees strong Q3 but loss in first nine months

Cosco Shipping Co Ltd (Coscol) is expecting a marked improvement in third quarter earnings, but it will still stay in the red for the first nine months of financial year 2013.

Lee Hong Liang, Asia Correspondent

October 14, 2013

1 Min Read
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The shipping arm of state-owned Cosco Group has told investors of an expected third quarter profit of RMB35.23m ($5.76m), a jump of 235.3% year-on-year. The stronger numbers are due largely to unspecified non-operating gains.

Third quarter revenue for the Shanghai-listed company is projected at RMB2.02bn, up 2.4% over the corresponding period of 2012.

From January to September 2013, however, Coscol revealed that it will stay in the red with a loss of RMB42.79m compared to a profit of RMB29.2m in the same period a year ago.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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