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China Shipping Giant Pays Big Bonuses in Freight Boom

  • Huge year-end payouts on offer as freight rates soar: Caixin
  • Evergreen Marine worker wins bonus of nearly 40 times salary
Cosco’s earnings jumped 1,651% in the first three quarters of 2021.

Cosco’s earnings jumped 1,651% in the first three quarters of 2021.

Photographer: Qilai Shen/Bloomberg
Corrected

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Asian shipping companies are offering mega bonuses to employees amid a boom in freight rates, with China’s state-owned giant Cosco Shipping Holdings Co. doling out as much as 60% of a manager’s annual salary, according to Caixin Global.