(Joanne Chiu – Marketwatch)
Chinese shipping operators are missing out on the global trade rebound, weighed down by excess shipping capacity and operating inefficiencies.
China Cosco Holdings Co. and China Shipping Container Lines Co., two of the country's biggest shipping operators, posted weak earnings Thursday, with soft freight rates and high costs continuing to plague the companies, in contrast to strict cost controls that have buoyed competitors such as Hong Kong rival Orient Overseas (International) Ltd. and Maersk Line, the shipping unit of Danish giant A.P. Moeller-Maersk A/S. Read more here.