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Cosco profits slide

Cosco profits slide
China’s Cosco group has seen its second half profits fall 61% on the back of high fuel costs and a weak container market. Net income fell from 2.68bn yuan to 1.05bn (US$136m).

China’s Cosco group has seen its second half profits fall 61% on the back of high fuel costs and a weak container market. Net income fell from 2.68bn yuan to 1.05bn (US$136m).

Cosco’s container division saw fuel prices rise 19% but has been unable to increase rates due to high capacity in the market.

www.TurkishMaritime.Com.tr

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