The China Shipping-controlled owner said it made CNY 73.48m ($11.96m) on a net basis, against a loss of CNY 929m a year ago.

Revenue was up at CNY 6.29bn from CNY 5.22bn in 2013.

And operating costs were contained at CNY 5.47bn compared to CNY 5.44bn.

The company said however it was facing a “complicated market environment”.

It shifted 105.2m tonnes of cargo, up 8% year-on-year.