The Chinese shipowning group COSCO Shipping Holdings Co. provides to close the first quarter of this year with an EBIT of approximately 10.5 billion yuan (1.5 billion US dollars), with a bending of the -74.0% regarding 40,5 billion yuan totaled in the first three months of 2022. In addition, a net profit is expected of about 8,4 billion yuan (- 74.3%) and a profit for shareholders of 6,9 billion yuan (- 74.9%).

The group explained that this significant contraction of Financial performance was determined by the deterioration of the container shipping market, with changes between the level of demand and supply which led to a year-on-year decrease of -68.5% of the average level of the China Containerized Freight Index (CCFI), the index which reflects the value of spot and contractual freight rates of containerized exports from China to the main markets World Cup, deterioration that in the first three months of 2023 caused a decline in COSCO Group revenues from the business of containerized sea transport.