Caixin OnlineFinance & EconomicsTop Stories Finance How State-owned Shipper Sailed into Stormy Seas
03.01.2013 12:23

How State-owned Shipper Sailed into Stormy Seas

Analysts blame a shortsighted strategy, a bad bet on a financial derivative and poor management for COSCO Holdings' woes
By staff reporters Liu Ran and Wu Jing
 
A

(Beijing) – One of the country's most prominent liner shipping operators, China COSCO Holdings Co. Ltd., is struggling to avoid being kicked out of the Shanghai Stock Exchange five years after its debut.

It lost 6.5 billion yuan in the first three quarters of 2012 after a 10.4 billion yuan loss the previous year. Analysts expect it to post a loss of under 10 billion yuan for all of 2012.

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