COSCO Struggles to Stem Its Losses

(Beijing) – COSCO, China's largest shipping company, suffered a huge loss last year and is struggling to right the ship this year. However, there would appear to be little indication it is approaching calmer waters.

A source in the company said management was seeking ways to reduce losses in 2012 because its shares were very likely to be labeled "ST," or special treatment, if it recorded a net loss for a second straight year, which is the policy of the Shanghai Stock Exchange.