News / Cosco Q1 profits up; a good indicator that 'we are over the worst'

© Vladimir Serebryanskiy

Cosco Shipping Holdings has posted a net profit of Rmb687m ($102m) for the first three months of the year.

This follows the Chinese state-owned container liner and terminal group’s $251m positive return last year, which, said Alphaliner, included $230m of subsidies from the Chinese government. 

Cosco, which acquired OOCL in a $6.3bn deal last July, is the first major container line to report Q1 earnings, and its results suggest it could have been a positive quarter for the industry. 

Maersk, the world’s biggest container line, will publish its Q1 ...