Singapore-listed COSCO Shipping International saw its turnover from continuing operations jump by 271 pct in the second quarter of 2018.
The logistics management company posted a turnover of SGD 40 million (USD 29 million) for Q2 2018, mainly driven by the turnover of SGD 32.3 million from newly acquired logistics businesses, the 100% acquisition of Cogent Holdings Limited and 40% acquisition of PT Ocean Global Shipping.
The results were offset by a decrease in shipping revenue from a reduced fleet of 3 bulk carriers.