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China COSCO posts Q1 net loss of 2 bln yuan
China COSCO Holdings Co Ltd., the flagship of the country’s biggest shipping conglomerate, made a net loss of 2 billion yuan ($324 million) in the first quarter as its bulk cargo business struggled to recover from a lingering industry slump due to a supply glut and weak global economy.Its first-quarter results improved from a net loss of 2.7 billion yuan last year, the company said in a filing to the Hong Kong stock exchange. (Reuters)
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