Cosco Corporation (Singapore) has warned of a “significant” loss in the fourth quarter due to poor shipbuilding and shipping markets.
It said the full-year result will also be in the red, compared to a profit of SGD 26.2m ($19.3m) in 2014.
The expected loss is due to low crude oil prices hitting the offshore vessel sector, the “slump” in the shipbuilding market and the “languid” dry bulk market.
This
