COSCON and CSCL feel the heat

摘要

Shanghai-headquartered COSCON and China Shipping Container Lines' (CSCL) 2009 financial results show how much they were pummelled by the economic downturn - although the former's Q1 10 results reveal that a corner has been turned. COSCON saw its revenue plunge by 38.5% to USD4 billion in 2009 compared to 2008. Its parent company China Cosco Holdings recorded a net loss of USD974.7 million compared to a profit of USD 1.85 billion in 2008 (there is no separate net figure available just for COSCON).