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Cosco reports Q1 loss, cites grim outlook

Higher interest expenses from having incurred more debt wipe out gross profit

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The gloom continues for Chinese shipbuilder Cosco Corporation (Singapore), which reported a net loss of S$14.4 million in its latest quarterly results and forecast worse operating conditions.

Singapore

THE gloom continues for Chinese shipbuilder Cosco Corporation (Singapore), which reported a net loss of S$14.4 million in its latest quarterly results and forecast worse operating conditions. Significantly higher interest expenses from more debt incurred to fund shipyard