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Cosco Corp sinks deeper into the red on shipping industry woes

Q3 loss widens 25%, sales fall 30%; group doesn't expect industry outlook to turn around soon

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Cosco's shipbuilding order books and contract prices are "suffering under the heavy weight of the industry over-capacity amidst a weak global economy".

Singapore

THE shipping industry's misfortunes have weighed on the fiscal third quarter results of Cosco Corporation (Singapore).

The shipbuilder on Friday reported a drop in sales and a widening of its losses for the period.

Cosco Corp's sales fell 30 per cent to S$662.3

sentifi.com

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