Shanghai-listed CMES has forecast a 2016 net profit growth of 40-70% from the profit of RMB1.15bn ($166.7m) recorded in 2015.
The Chinese shipowner attributed the expected earnings boost to the 7% and 19% higher contributions from its tanker and dry bulk shipping businesses, respectively.
CMES added that it will also benefit from government subsidies received from the scrap-and-build policy of promoting the demolition of elderly vessels and building new ones.
CMES, however, pointed out that the overall operating conditions in the tanker and dry bulk shipping markets remained challenging due primarily to the lingering tonnage glut.
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