COSCO calms fears despite 12% profits fall

COSCO Pacific Ltd, the terminal and container unit of China's biggest shipping group, said support from its parent will be "consistent", despite recent hardship in the group.

Hong Kong-listed COSCO Pacific is one of the six public companies under the COSCO Group, which is struggling to swing back to profit in the aftermath of the global financial crisis.

Pacific on Tuesday reported a 12 percent drop in annual profits for 2012 to $342.19 million.