China Shipping Development Corp (CSDC) is expecting a return to profit for 2014 on the back of higher tanker rates.
The Shanghai and Hong Kong-listed China Shipping Group company said it will post net earnings of CNY 300m ($48m) to 31 December.
This compares to a loss of CNY 2.2bn in 2013.
The shipowner said it also benefited from cost controls and a state scrapping subsidy worth CNY 456m.
