Its profit in the three months to the close of December 2014 reached $0.76m and marked the company's sixth successive quarter in the black.

Although it managed far fewer ships between October and December 2014 – 27 against 96 – total revenue climbed to $3.1m from $2.5m.

Lei Cao, chairman of Sino-Global, said: “It is the first profitable calendar year since our initial public offering in 2008."

He