Cosco Shipping International has posted lower profits after offloading its shipyard operations.
Net earnings were SGD 13.22m ($9.76m) in 2018, down from SGD 65.38m in 2017.
The previous year's figure benefited from an SGD 92.44m boost after it sold the yard business, however.
Revenue in 2018 was up at SGD 163.67m against SGD 37.18m as it acquired logistics operations.
This was offset by a decrease in shipping revenue from a reduced fleet of three bulkers.
