The state-controlled company said net earnings were CNY 186.4m ($30.29m) to 30 June, compared to a loss of CNY 343.6m in the same period of 2013.

The Shenzhen-listed subsidiary of Beijing-based Sinotrans & CSC suspended its stock in December as it fought to survive a court restructuring.

Banks have taken legal action against it and ships have been sold off.