China COSCO Holdings Co Ltd., the flagship of the country’s biggest shipping conglomerate, made a net loss of 2 billion yuan ($324 million) in the first quarter as its bulk cargo business struggled to recover from a lingering industry slump due to a supply glut and weak global economy.

Its first-quarter results improved from a net loss of 2.7 billion yuan last year, the company said in a filing to the Hong Kong stock exchange. (Reuters)