Singapore-listed Yangzijiang, which is China’s top performing shipyard this year, saw its bottom line climb by 52% to CNY 1.24bn ($150m) in the three months to the end of June.

Ren Yuanlin, chief executive of the shipyard, said: “The shipping industry continues to be on a steady recovery track and we have observed that ship owners are enhancing their focus on vessels operational efficiencies.