China Shipping Development Co (CSDC) has seen first-half earnings rise more than 100%.
The world’s biggest tanker owner said net profit to 30 June was CNY 1.85bn ($276.9m), up from CNY 847.5m in 2015. It had forecast earnings of more than $200m in July.
The result was driven by an asset sale and stringent cost controls it said.
Revenue fell 0.3% to CNY 5.31bn
