Third-quarter net profit up 39% at COSCO affiliate
COSCO Shipping Co., Ltd., a heavy-lift and general cargo shipping affiliate of state-owned China Ocean Shipping Co. group, saw its net profit soar 39 percent in the third quarter, to RMB80.4 million ($9.7 million).
Stock market-listed COSCO Shipping also reported that its income from its major business reached RMB553 million ($66.9 million), 41 percent more than in the same quarter of last year.
COSCO Shipping was listed on the Shanghai stock exchange in April 2002.