Cosco’s Profit Drops by Half as Lower Freight Rates Bite
Cosco Shipping Holdings Co. reported a 50% drop in first-quarter profit on weaker freight rates, warning that war in the Middle East has posed “significant challenges” for the industry.
By Rachel Yeo · Bloomberg Markets
Cosco Shipping Holdings Co. reported a 50% drop in first-quarter profit on weaker freight rates, warning that war in the Middle East has posed “significant challenges” for the industry.