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Cosco Shipping 2Q net loss narrows to $20.8 mil

PC Lee
PC Lee8/4/2017 5:55 PM GMT+08  • 2 min read
Cosco Shipping 2Q net loss narrows to $20.8 mil
SINGAPORE (Aug 4): Cosco Shipping International (Singapore) reported net loss narrowed to $20.8 million in 2Q17 from $36.8 million in 2Q16.
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SINGAPORE (Aug 4): Cosco Shipping International (Singapore) reported net loss narrowed to $20.8 million in 2Q17 from $36.8 million in 2Q16.

Group revenue decreased by 31.2% to $524.7 million in 2Q17 from $762.9 million in 2Q16 owing to decrease in shipyard revenue.

Turnover from shipyard operations decreased by 31.6% to $516.1 million in 2Q17 from $754.6 million in 2Q16 mainly owing to lower revenue contribution from ship repair, ship building and marine engineering.

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