The China Shipping Group company said netearnings to 31 March were CNY 61.39m ($9.81m), compared to a loss of CNY 688.91m inthe same three months last year.
Revenue grew to CNY 8.56bn, from CNY 8.1bn.
Asset sales contributed CNY 280.56m to thebottom line, while operating costs increased slightly to CNY 8.9bn, from CNY8.8bn in 2013.
The company said it had disposed of ShanghaiChina Shipping International Container Storage and Transportation Co andShanghai Zhengjin Industrials Co during the period.
