Brief: Cosco Shipping International Singapore says Q1 loss attributable S$78.9 mln

COSCO Shipping International (SINGAPORE)

05/05/2017 10:11

May 5 (Reuters) - Cosco Shipping International (Singapore) 
Co Ltd  COSC.SI : 
    * Qtrly turnover S$401.8 million versus S$722.3 million 
    * Q1 loss attributable to equity holders of co S$78.9 
million versus net loss of S$14.4 million 
    * Expects competition to remain keen even as crude oil 
prices continue to remain low 
    * 2017 will remain challenging for group 
    * "Expects  difficult and challenging business and operating 
conditions to persist and may even worsen" 
    * Group's offshore marine segment has been "adversely 
affected" by low crude oil prices over past few years 
    * "Group expects operating margins on new ship building and 
offshore contracts to continue facing severe downward pressure" 
    * Ship building segment will continue to be highly 
challenging in 2017 
 
Source text for Eikon:  ID:nSNZ8Tf2Qv  
Further company coverage:  COSC.SI  
 
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