CMES announced to the Shanghai Stock Exchange that its projected profit for 2015 will be RMB200.26m ($30.46m), citing gains expected from its joint venture China VLCC which has expanded its fleet.
The tanker and dry bulk shipowner also attributed the profit to government subsidies received from the scrap-and-build policy.
The Chinese firm, however, said the sluggish dry bulk shipping market has put a cap on higher earnings.
Meanwhile, CMES announced that its chairman Li Xiaopeng has resigned as of 22 January 2016 and appointed Su Xingang as the new chairman.
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