China Shipping Development Company is expecting its profit for the first half of the year to spike and probably exceed $200m.

The world’s largest tanker owner said profit for the six months to the end of June will be increased by between 100% and 150%, compared to CNY 837m ($125.9m) a year ago.

CSDC, which will be renamed Cosco Shipping Energy Transportation after the merger of Cosco and China Shipping Group, will benefit from the sale of China Shipping Bulk Carrier.

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