China COSCO Holdings Co Ltd, the fifth-largest container terminal operator in the world, is likely to post loss for 2009 after reporting RMB 5.31 billion in net loss during the first three quarters of this year, said the company in a statement on Thursday.
The loss mainly resulted from the weak demand and freight volume caused by the global economic recession, said the company.
The port operator's net loss amounted to RMB 690.7 million in the third quarter of this year, compared with a net loss of RMB 1.27 billion in the previous quarter.
China COSCO's loss per share was RMB 0.07 in the third quarter and RMB 0.52 in the first three quarters.
As of Sep.30, the ocean shipping enterprise had RMB 135.4 billion in total assets, whereas it had RMB 116.78 billion at the end of last year. Net asset value per share was RMB 4.38.
In the period from January to September, the company's freight volume was 3.78 million twenty-foot equivalent units, down 16.7% year on year.
The loss mainly resulted from the weak demand and freight volume caused by the global economic recession, said the company.
The port operator's net loss amounted to RMB 690.7 million in the third quarter of this year, compared with a net loss of RMB 1.27 billion in the previous quarter.
China COSCO's loss per share was RMB 0.07 in the third quarter and RMB 0.52 in the first three quarters.
As of Sep.30, the ocean shipping enterprise had RMB 135.4 billion in total assets, whereas it had RMB 116.78 billion at the end of last year. Net asset value per share was RMB 4.38.
In the period from January to September, the company's freight volume was 3.78 million twenty-foot equivalent units, down 16.7% year on year.
