COSCO Shipping reported first quarter revenues that jumped 38% on a year earlier due to the consolidation of CSCL. When compared to the previous quarter they increased by less than 1%. That lagged Mitsui OSK’s 15% growth, but was well ahead of local peer Orient Overseas. COSCO’s average achieved rates rose 5%, which beat Orient Overseas’ 3% drop but lagged market rates. COSCO likely lagged the industry more broadly. Panjiva analysis of analysts’ estimates indicates containerline revenues increased 3% in the first quarter vs. the fourth.