Tankers

Chinese VLCC giant braces for falling profit

Company says it has been adjusting fleet capacity and dry-docking schedule to take advantage of healthy markets

CSET’s profits in the first half of 2023 were boosted by the sale of vessels such as the Cosbright Lake. There have been no such sales so far this year.
CSET’s profits in the first half of 2023 were boosted by the sale of vessels such as the Cosbright Lake. There have been no such sales so far this year.Photo: Alf van Beem/CC0 1.0
TradeWinds correspondentSingapore
Published 9 July 2024, 07:51Updated 9 July 2024, 15:06
Cosco Shipping Energy TransportationVLCCsSale and purchaseHong KongChina