Shanghai-listed CS Haisheng is expecting a profit of around RMB19.35m ($3.2m) in 2013 as against a loss of RMB372m in 2012.
The subsidiary of state-owned China Shipping Group explained that the rise in earnings is due mainly to returns from share investments, control on expenditures and higher operational efficiency.
CS Haisheng operates a fleet consisting largely of dry bulk carriers and a handful of chemical tankers and product tankers.
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