Companies

China COSCO chairman sees freight recovery in 3-5 years

(Agencies)
Updated: 2010-11-09 14:52

GUANGZHOU - The head of China COSCO, the world's largest dry bulk firm, expected the global freight market to recover in three to five years.

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"China's internal demand is huge, external demand is also growing and we will see another spring in three to five years' time," Wei Jiafu told reporters at an industry conference.

The container market, which is closely linked to world economic growth, has already started to recover with companies returning to profit after the financial crisis, he added.