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Cosco Q1 Profit Drops 50%, Resumes Gulf Bookings

5/1/2026

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Summary

Story summary

Cosco Shipping Holdings Co. reported a 50% drop in first-quarter profit.
Net income fell to 5.9 billion yuan ($863 million) from 11.7 billion yuan a year earlier.
Revenue declined 11% to 51.8 billion yuan while container freight rates were 14% lower than a year earlier.
Cosco said the Middle East war creates shipping safety challenges but resumed bookings for general-cargo containers to the United Arab Emirates and Saudi Arabia.

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Story summary

Cosco Shipping Holdings Co. reported a 50% drop in first-quarter profit.
Net income fell to 5.9 billion yuan ($863 million) from 11.7 billion yuan a year earlier.
Revenue declined 11% to 51.8 billion yuan while container freight rates were 14% lower than a year earlier.
Cosco said the Middle East war creates shipping safety challenges but resumed bookings for general-cargo containers to the United Arab Emirates and Saudi Arabia.