Cosco Shipping, a Shanghai-listed unit of China Ocean Shipping (Group) Co, announced that its net profit for the third quarter of 2012 was US$1.2 million, an on-year decline of 72.67 percent, Cargonews Asia reports.
Meanwhile its operating revenue reached $260 million, an on-year rise of 19.19 percent, China Business Newswire reported.
In the first three quarters of 2012, the company saw its net profit fall 95 percent to $1.4 million. Its operating revenue totaled $724 million, an on-year rise of 18.93 percent.
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