Hong Kong-listed Sinotrans Shipping has returned to profit in 2017 as revenue rose.
The bulker and containership owner said net earnings were $40m, against a loss of $242m in 2016.
Revenue reached $1bn against $841m, while it kept costs below this figure at $940m, compared to $888m the year before.
It booked a bulker impairment of $163m in 2016, but zero in 2017.
