State-owned China Shipping Development Co (CSDC) is expecting net earnings to more than double for the first quarter.
The world’s biggest tanker owner, formed this year from the fleets of Cosco and China Shipping, said on Tuesday profit should be about CNY 155m ($23.97m).
It has benefited from higher freight rates, as well as lower fuel and finance costs, it told the Shanghai Stock Exchange.
CSDC’s
