The Hong Kong-based carrier ended the year with a $1.5 billion net profit, but that was a 41% drop from the robust earnings of the previous year.
Cosco did not give a reason for the move, but it comes just two weeks after the Panamanian government wrested control of Balboa and Cristobal ports from Hutchison-owned operator Panama Ports Company.
All major long-haul liners are seeking temporary supply chain asylum at Indian docks to offload boxes that departed China and Southeast Asia in recent days, according to market sources in India.
