Major Chinese and Hong Kong shipping groups logged record revenue and profit growth in the first half of the year, buoyed by a confluence of factors driving up international freight rates. State-owned COSCO Shipping Holdings, the world’s third-largest maritime carrier by capacity, said first-half revenue grew 88% on year to 139.26 billion yuan ($21.5 billion) …

The post Chinese shipping profits surge across industry on capacity squeeze first appeared on Hellenic Shipping News Worldwide. Source