China Shipping Develpment Co (CSDC) has made good on its promise to more than double its first quarter profit.
As previously guided by the state-owned company, net earnings for the three months to March were CNY 154.7m ($23.9m), against CNY 65.9m a year ago.
CSDC, which will emerge as the world’s largest tanker owner from the merger of China Shipping with Cosco, forecast profit of CNY 155m 10 days ago.
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