Coscol swings back to profit in H1

Cosco Shipping Co Ltd (Coscol) has swung back to profit in the first half of 2014 even as revenue dipped.

Net profit in the six-month period ended 30 June 2014 was recorded at RMB11.44m ($1.85m) as against a loss of RMB78.02m in the previous corresponding period.

Coscol’s revenue, however, fell 1.6% year-on-year to RMB3.57m.

Last year, the heavy lift arm of China’s Cosco Group booked a profit of RMB31.49m, emerging from a loss of RMB66.42m in 2012.
Source: Seatrade Global