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16 February 2019 The on-line newspaper devoted to the world of transports 14:31 GMT+1



January 31, 2019

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COSCO Shipping previews to close 2018 with an inferior profit of the -55% regarding that of the exercise precedence

Turned out Sul hung the increase of the cost of the fuel and an inferior quota extraordinary proceeds

Shipowning group Chinese COSCO Shipping Holdings Co. it previews to close the exercise anniversary 2018 with a profit of competence of the shareholders of the society of about 1,20 billion yuan (179 million dollars), with a decrease of 1,46 billion (- 55%) regarding 2,66 billion yuan totaled in exercise 2017, and with a profit of competence of the shareholders of the society to clearly of the extraordinary voices of about 200 million yuan, with a decrease of 750 million (- 79%) regarding 950 million yuan in the exercise precedence.

The Chinese group has explained that in the 2018 COSCO Shipping Holdings it has concentrated on the expansion and the development of the own main activities and has continued to get ahead own restructure being strengthened quality, efficiency and synergies. Moreover it has evidenced that the volumes transported in the field of the containerized marine transport, the traffic enlivened from the container terminal and the recorded operating profit from the group have shown a remarkable increase regarding the results achieved in the exercise anniversary 2017. However - it has specified COSCO Shipping - because of the emphasized rise of the costs of the fuel determined from a meaningful increase of the price of the oil in the course of 2018, the operating profit of the group for exercise 2018 is diminished regarding the turned out correspondent of the year precedence. Moreover the not recurrent profit of competence of the shareholders relative to exercise 2018 is previewed down regarding that of 2017 mainly because a meaningful quota the extraordinary proceeds is generated by the subscription of actions of the Qingdao Port International Co.(on 13 February 2017).

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