China Shipping Haisheng News

COSCO Shipping warns of 99.5% interim profit drop Shanghai-listed COSCO Shipping, the vessel service provision arm of China Ocean Shipping (Group) Co, says that profit attributable to shareholders for the first half will drop 99.5% from a year earlier to about RMB700,000 ($109,000). SinoShip News adds that other listed firms are feeling the pinch too. Shanghai-listed China Shipping Haisheng, a bulk carrier subsidiary of China Shipping Group, also gave investors an early warning of a first-half loss this week, without disclosing specific figures.

According to a Jan 19 report from CapitalVue News, China Shipping Haisheng’s wholly-controlled subsidiary, Shenzhen Sanding Oil Trading, ordered a 76,000-ton crude oil carrier for 384 million yuan, reports 163.com, citing a company filing. (Source: CapitalVue News)