Cosco Shipping Profit Halves on Weak Freight Rates, Lower Demand

Cosco Shipping Holdings Co. reported a sharp drop in third-quarter profit, amid lower freight rates and the end of frontloading activity as effects from US President Donald Trump’s port fees loom.

Net income for China’s largest shipping liner fell 55% to 9.5 billion yuan ($1.3 billion) in the third quarter as income fell across all of its route segments, except mainland China. Revenue from transpacific routes — it’s biggest segment — led the declines, according to a filing late Thursday.

The company’s earnings outlook is set to decline further once the effects from port fees from US Trade ...