With the existing downturn of shipping industry, COSCO Shipping as one of the A share listed companies under COSCO Group has disclosed that its net profit in 2012 has decreased by 87.39%.

According to the yearly report published by COSCO Shipping, total operation revenue last year reached 6.3 billion Yuan, increasing by 22.11%. However, the net profit only got to 19.15 million Yuan, shrinking by 87.39% than 2011.

Of all the business fields in COSCO Shipping, automobile transportation and semi-submerged vessels are the main sectors, which increased dramatically. The freight rate of automobile transportation has risen by 15%-20%.

Source from CNSS