Cosco Shipping’s Rebound May Just Be A Bounce — Panjiva


Cosco Shipping’s Rebound May Just Be A Bounce

Corp - Shipping 608 Earnings 365 Global 722 Mode - Containerized 1005 Mode - Seaborne 1273

Cosco Shipping reported a rebound in profitability in 4Q 2018 with an EBITDA margin of 10.2% from 2.4% a year earlier. That was the highest result since 3Q 2014 and was helped by a mixture of the inclusion of superior profitability from Orient Overseas as well as less aggressive competition for Trans-Pacific volumes. The company has a somewhat downbeat outlook for 2019 including “trade frictions, high oil price (and) surplus shipping capacity”. The ability to pass through higher fuel costs will be critical to the sector’s long-term profitability – the evidence from 1Q 2...

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