State giant China Cosco Shipping’s energy and container shipping arms, both of them dual-listed in Shanghai and Hong Kong, fared very differently in the first quarter when the coronavirus pandemic started to affect their results.
While Cosco Shipping Energy Transportation (CSET) managed to ride on strong tanker earnings, Cosco Shipping Holdings suffered from lower shipping volumes.
CSET said its first-quarter profit amounted to CNY 629m ($88.9m)
