COSCO issues first half profit warning
China COSCO Group said Wednesday it expects to record a first half loss when it issues its interim statement for 2011 this month.
The parent of COSCO Container Lines said in a note to the Hong Kong Stock Exchange that higher fuel prices and diminished demand growth have taken their toll.
The parent company, which also oversees dry bulk and logistics divisions, suffered a first quarter loss, though it didn't provide profit details on the container shipping business.
COSCO issues first half profit warning
