Malaysian shipowner and shipyard company Shin Yang Shipping is staying positive despite logging a decline in its second quarter earnings.

It said net profit to 31 December was MYR 1.33m ($0.29m), down from MYR 3.47m a year ago.

The mixed fleet of boxships, tankers, bulkers and tugs brought in revenue of MYR 162m against MYR 178m in 2015.

The company said prospects for the shipping industry continue to remain "challenging and positive" with the recent decline in the crude oil price.

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