Like virtually all of the shipping companies, primarily those that operate scheduled services in containers, even China COSCO Holdings Co. filed the first part of 2011 with a negative sign of economic performance which has made a significant contribution to the losses generated by ' activities in the dry bulk segment.
The Chinese company has closed the first half of the year with a net loss of 2.76 billion yuan (432 million dollars) compared to a profit of 3.41 billion yuan in the first half of 2010. Revenues amounted to 42,00 billion yuan, down 7.8% compared to 45.57 billion yuan in the first six months of last year, and EBIT was a loss of 2.69 billion yuan compared to a profit of 4.61 billion yuan in the first half of 2010.
Among the company's core business, the business of containerized shipping of China COSCO, the company exercised through COSCO Container Lines (Cosconati) which holds the entire share capital, registered in the first half of 2011 a deficit of 946 operational, 8 million yuan on revenues of 20.25 billion yuan compared with operating income of 995.9 million yuan on revenues of 20.97 billion yuan in the first half of last year. In the first six months of 2011 the volumes transported by containerized fleet of the Group totaled 3,239,634 TEUs, with an increase of 9.8% on the first half of 2010. On transpacific routes have been transported 747,776 TEUs (-0.1%), those between Asia and Europe 717,305 TEUs (+21.9%) also increased traffic on domestic routes in China, which amounted to 839,782 TEUs (+ 13.5%), intra-Asian routes on the other (including Autralia) with a total of 810,353 TEUs (+2.3%) and other routes operated by the group, including transatlantic, which totaled 124,418 TEUs (+ 52.2%).
In the sector of maritime transport of bulk solids, in which the company operates through wholly controlled ChinaCosco Bulk, China COSCO has closed the first half of this year recorded a deficit of 2.67 billion yuan in operating revenues of 12.22 billion of yuan, compared to an operating profit of 3.11 billion yuan on revenues of 16.75 billion yuan in the first six months of 2010.
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Like virtually all of the shipping companies, primarily those that operate scheduled services in containers, even China COSCO Holdings Co. filed the first part of 2011 with a negative sign of economic performance which has made a significant contribution to the losses generated by ' activities in the dry bulk segment. 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
