Sinotrans Shipping in the Red
Sinotrans Shipping slid back into the red for the first half of 2015, turning to a $18.3m loss from a small $2.3m profit in the previous corresponding period. The dry bulk and container shipping arm of Chinese state-owned Sinotrans & CSC Group continues to feel the pain of low rates. The company is now considering diversifying its shipping business. Revenue of the Hong Kong-listed company dropped 19% year on year (y/y) to $485.1 million , a stock filing of Sinotrans Shipping said on 14 August.