Yemen’s Houthis Target MSC Ship in Gulf of Aden
DUBAI, April 25 (Reuters) – Yemen’s Houthis said they targeted the MSC Darwin ship in the Gulf of Aden on Thursday, as the Iran-aligned group resumed attacks on commercial ships in the Red Sea...
Government-controlled Cosco, whose businesses include container and dry-bulk shipping as well as port operations, reported a net loss of 1.53 billion yuan ($243 million) for the three-month period ending Sept. 30, down from CNY2.07 billion a year earlier.
Revenue rose 4.6% to CNY19.06 billion from CNY18.23 billion.
The international shipping industry, often seen as a barometer of the global economy’s health, has been hurt by Europe’s debt crisis and oversupply of shipping capacity.
The Baltic Exchange Dry Index, which tracks the cost of shipping raw materials and is widely considered a leading economic indicator, has fallen sharply in the past year.
As of June 30, the company had a dry-bulk fleet of 357 ships, including 130 ships chartered from other companies.
– Colum Murphy, (c) 2012 Dow Jones & Company
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