The state controlled shipowner was facing ejection from the exchange after posting two straight years of losses.

A third strike would have seen its name hauled off the mainboard but a series of asset sales over the last 12 months helped guilde it to safety.

The world’s largest bulker owner carded a CNY 235.5m ($37.88m) profit in 2013, a huge upswing from the CNY 9.6bn