Cosco Shipping sees profits climb 150%

Cosco Shipping, a subsidiary of China's largest shipping firm, China Ocean Shipping (Group) Co, announced yesterday that its net profit soared 150.89 percent year on year to US$52 million in 2010.


In 2010, Cosco Shipping realized $675 million in operating revenue, 12.95 percent more than in the previous year, the company said in a statement.


The company said earlier this month that it expected its net profit to jump 57.45 percent year on year to $13 million million in the first quarter of this year, and its operating revenue to rise 20.42 percent year on year to $171 million during the period.
(Source:http://www.cargonewsasia.com)