Nanjing Tanker posts 37% rise in Q3 profit

During the third quarter, NJTC managed to reap savings from bunker consumption and lower operating costs, contributing to the earnings, according to a website announcement by its parent Sinotrans & CSC Group.

NJTC added that it continues to build on the profit generated over the first half of this year, and expects a profitable 2015.

In the first nine months, NJTC registered a profit of RMB479m and a revenue of RMB4.02bn.

The tanker shipowner was delisted from the Shanghai Stock Exchange in the middle of 2014 after it chalked up consecutive losses since 2011.

The completion of a restructuring saw NJTC returned to profitability and it now aims to return to the Shanghai bourse in 2017.