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Kalyakan - stock.adobe.com
The state-owned shipping firm booked a deficit of RMB246.67m ($40.5m) in the third quarter, widening from a loss of RMB90.72m in the previous corresponding period.
Revenue was recorded at RMB2.93bn compared to RMB2.81bn a year ago.
“Since the start of 2013, the domestic and overseas shipping markets have been experiencing a downturn. We expect the group to record a net loss for the financial year 2013,” Shanghai-listed CSDC said.
In the first nine months of this year, CSDC registered a huge loss of RMB1.2bn compared to a loss of RMB401.68 in the same period of last year.
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