Jan 19, 2022 08:34 PM

BUSINESS

Shipping Companies Pay Out Bumper Bonuses as Supply Chain Chaos Boosts Profits

By Jia Tianqiong and Guo Yingzhe

A cargo ship loaded with containers sets sail. Photo: Wan Hai Lines

A cargo ship loaded with containers sets sail. Photo: Wan Hai Lines

Chinese shipping companies are offering higher salaries and year-end bonuses as global supply chain disruptions due to the Covid-19 pandemic lead to buoyant profits.

Employees of the container unit of state-owned shipping giant Cosco Shipping Holding Co. Ltd. (610919.SH) said their year-end bonuses had grown to as high as 30 times their monthly pay. Year-end bonuses are usually paid right before the Lunar New Year.

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