[photopress:logistics_cosco.jpg,full,alignright]Dry bulk shipping in China has come into its own in the past ten years or so. Dry bulkers ships carry everything from grain to coal to metals. One of the biggest players in the business is China COSCO Holdings Company, generally known as Cosco.
More than half of its revenue comes from dry bulk shipping — about 52% — but the group also handles container shipping, integrated logistics services, and terminal and container leasing.
Dry bulk shipping services are predicted to grow in 2008 with increasing demand for iron ore and coal to India and China.
Last year, Cosco, considered to be the second largest integrated shipping company in the world, spent over RMB17 billion to increase the size of its fleet and expand its port interests. Yet it still managed to post almost 135% net profit growth over 2006.
Management plans to up its capital expenditure to over RMB23 billion in 2008 which is an increase of 37%.
In the first quarter of this year Cosco increased its net profits by 135% over the same period a year ago.
Source: Seeking Alpha
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