China Merchants Energy Shipping predicts Q1 profit

CMES said that the company has managed to “capture opportunities during the market upturn in the dry bulk and tanker shipping segments”, allowing it to expect a profit by the end of March.

The Chinese bulker and tanker operator had recorded a 2013 full year net loss of RMB2.18bn as against a net profit of RMB91.07m in 2012.

Last year's revenue fell 14.3% year-on-year to RMB16.9bn. The results in 2013 were in line with the company's expectations.