Tuesday, July 28, 2009

COSCO warns of more losses

COSCO is the largest Chinese carrier, and the 5th largest container carrier in the world. Tradewinds reports Cosco will post a loss for the first half of 2009.
click here for link to article

They have not said how much, but they lost CNY 3.35bn in the first quarter (approximately 490.4 Million USD).

Here's the top 10 carriers, and their market shares, as reported in April 2009 by AXS-Alphaliner.
(see my blog post Top 100 International Carriers)

1 APM-Maersk 15.3%
2 Mediterranean Shg Co 11.5%
3 CMA CGM Group 7.3%
4 Evergreen Line 4.7%
5 COSCO Container L. 3.7%
6 Hapag-Lloyd 3.7%
7 APL (NOL) 3.7%
8 CSCL 3.4%
9 NYK 3.2%
10 Hanjin Shipping 2.9%

Maersk, MSC, CMA CGM, COSCO, Hapag-Lloyd, APL have all announced loses.

The others I don't recall, but I can't imagine any of them are making money this year.

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