Chinese shipowner Cosco returned to profit in 2017 with net income of CNY2.66bn ($423m) following the previous year’s CNY9.9bn loss. The company said it had a “strong and growing business segment” that included its China operations as well as Hong Kong, Singapore and India. In particular, reorganisation of routes helped it to expand the services it offered and improved its efficiency.
Chinese shipowner Cosco returned to profit in 2017 with net income of CNY2.66bn ($423m) following the previous year’s CNY9.9bn loss. The container line said its performance had been boosted by increased demand, internal changes and an improving global economy. In particular, reorganisation of routes helped it to expand the services it offered and improved its efficiency.