SIMIC

Cosco is issues out the huge year-end bonuses to employees including its sales and marketing staff, Caixin said, citing employees at the company. Other shipping companies, including those in Taiwan, are also giving out generous rewards.

A worker at Taiwan's Evergreen Marine received a year-end bonus that was nearly 40 times his monthly salary, according to the daily.

Shipping lines have seen revenues soar on record freight rates, as the pandemic created major disruptions to the global supply chain. Surging demand for consumer goods coupled with lockdowns and border closures have created a worldwide shortage of shipping capacity and port delays.

Cosco's earnings jumped 1,651 per cent to CNY67.6 billion (US$10.7 billion) in the first three quarters of 2021, according to a company filing.