The Hong Kong and Shanghai-listed shipbuilder booked net profitof CNY 55.5m ($9m) in the six months to 30 June, down by well over a third from CNY89.25m in the same period a year earlier.

Revenue tumbled by just under 50% to CNY 1.75bn from CNY3.43bn.

GSI bagged contracts for 14 newbuildings during the period andhad an orderbook stretching to 46 vessels at the end of June.

The