COSCO Shipping Holdings of China has reported higher earnings in 2017 owing to a global economic recovery and increased demand for container shipping services.

From a loss of CNY 9.9 billion in 2016, the company recorded a profit of CNY 2.7 billion (USD 423.3 million) in 2017 and revenues rose from CNY 69.8 billion to CNY 90.4 billion (USD 14.4 billion).   

COSCO was able to grow by focusing on efficiency and innovation. As the industry is stabilizing, improving overall service should become a priority. “Looking forward to 2018, the world economy will maintain a good momentum for recovery and China will continue to deepen its economy transformation and high quality development.” 

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