China Cosco haemorrhaged red ink in the first three months of the year as its container and dry-cargo businesses continued to struggle.
Hong Kong-listed Cosco lost a huge CNY 2.7bn ($429m) in the three months to the end of March, worse than the CNY 503.3m reversal shouldered a year ago.
And analysts are not hopeful it will be able to turn the tide with rate hikes in Cosco’s container shipping business unlikely to plug the whole in earnings created by lower dry-cargo income, Reuters says.
Income
