Cosco Shipping International forecast profit rise for 2018

The rebound among Chinese shipping companies is extended to service providers too as evident from Cosco Shipping International’s profit forecast upgrade for full-year 2018.

Cosco’s services arm said in a stock market announcement that 2018 net profit was “expected to increase significantly and record an increase of not less than 40% as compared with that of the year ended 31st December 2016”.

The company attributed the the expected increase mainly to the increases in exchange gains and net finance income.