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Bleak year ahead for Chinese yards after Q1 profits take a hit

Friday, May 1, 2015 - 05:50

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Chinese shipbuilders Yangzijiang Shipbuilding and Cosco Corp both posted gloomy first-quarter results on Thursday as the weak global shipbuilding industry continues to be mired in overcapacity.

Singapore

CHINESE shipbuilders Yangzijiang Shipbuilding and Cosco Corp both posted gloomy first-quarter results on Thursday as the weak global shipbuilding industry continues to be mired in overcapacity.

Net profit and overall revenue sank for both firms, though Cosco's bottomline

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