Cosco Corp (Singapore) Ltd. hit by a loss in the first quarter of 2016 as against a profit in the year-ago period due mainly to the poor shipbuilding and dry bulk shipping businesses. Net loss for the quarter ended 31 March 2016 was registered at SGD14.39m ($10.59m) as against the gain of SGD766,000 in the previous corresponding period. Revenue fell by 27% year-on-year to SGD722.29m owing to lower contributions from shipbuilding and dry bulk shipping, partially offset by higher revenue from ship repair.
