KUCHING: A substantial loss in the disposal of cargo vessels has hurt Shin Yang Shipping Corp Bhd (Syscorp) earnings despite improved profit margins from the group’s shipping operations as a result of global reduction in bunker price.
Syscorp said it incurred RM9.3mil in losses with the sales of non-profitable container vessels and a bulk carrier plying certain non-economical routes in the third quarter ended March 31, 2015.
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