Shin Yang makes less

Malaysia’s Shin Yang Shipping has seen its profit for the fourth quarter of the year slip despite increased revenue.

Its net earnings were MYR 2.5m ($793.150) compared to MYR 10.6m in the corresponding period of 2013.

The shipbuilder and shipowner blamed a lack of profit from the international liquid bulk segment for this drop.

Revenue rose by 17% to reach MYR 280.7m, with all units showing improvement.

Higher cargo volumes from boxship operations boosted the shipping segment’s revenue to MYR 169.3m, a 12.9% increase.

Total turnover from shipbuilding activities was up 24.3% to MYR 169.3m.

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