The state controlled shipowner was facing ejection from the exchange after posting two straight years of losses.
A third strike would have seen its name hauled off the mainboard but a series of asset sales over the last 12 months helped guilde it to safety.
The world’s largest bulker owner carded a CNY 235.5m ($37.88m) profit in 2013, a huge upswing from the CNY 9.6bn deficit for the previous 12-month period.
Total sales fell by CNY 2.13bn in 2012 to CNY 66.14bn last year, the company, which is also quoted in Hong Kong reported today.
Revenue from its container shipping division remained flat at CNY 47.5bn while dry cargo revenue fell by CNY 2bn to CNY 13bn as the company shed older vessels.
Asset disposals concluded over the past year include the sale of itslogistics wing to parent Cosco Group for CNY 6.75bn ($1.1bn) and an indirect stakein China International Marine Containers (CIMC) for $1.2bn.
A pair of asset management companies also fetched a combined CNY 3.74bn.
Despite the return to the black the board has decided not to pay a dividend to its shareholders.
Cosco operated 173 containerships and 319 bulkers at the turn of the year.
It has been busy renewing its fleet placing a series of newbuilding orders already this year while 41 vessels have been lined up for the scrap heap in 2014.
