China Cosco Holdings, the listed subsidiary of Cosco, China’s largest integrated shipping company, reported a much improved performance in the first quarter of 2010. It recorded revenues of Rmb17.4bn in the first three months, up 59 per cent year-on-year, while operating profits were up 179 per cent to Rmb1.84bn.

Container shipping volumes reached 1.306m TEU, up 31 per cent, with the trans-Pacific and Intra-Asia trades performing particularly well. Dry bulk shipping volumes increased by a more modest 8.3 per cent to 66.53m tons.