China's COSCO Shipping reports $1.4bn loss for 2016

© Vladimir Serebryanskiy_cosco 80073176

© Vladimir Serebryanskiy

By Alex Lennane

31/03/2017

Another staggering loss in container shipping. This time it’s Cosco, with a fairly significant $1.44bn loss for 2016. And yes, the company blamed low freight rates, as well as restructuring costs. Last year, Cosco merged with China Shipping and has been busy restructuring, selling parts and focusing on container shipping. As with the other lines, it predicts better results this year.

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