Cosco up 3.4% on hopes of new orders

Shares of Singapore-listed Chinese shipping firm Cosco Corp rose as much as 3.4 per cent to $1.50 (US$1.08) on Thursday, on anticipation the firm may receive more orders, traders said. By 0312 GMT, over 7.5 million shares had changed hands.
'Investors are turning more positive on the prospects of Cosco in anticipation of a pick up in the bulk carrier sector,' said a local trader.
However, another trader added that Cosco may face tough competition from industry leaders like Sembcorp Marine in getting new orders.