Chinese shipping firm CS Haisheng has projected a profit of RMB77.46m ($12.65m) for its first three quarters of 2013, reversing from a loss of RMB170.99m in the previous corresponding period.
The Shanghai-listed firm attributed the expected gains to a one-off investment returns of RMB26.45m.
CS Haisheng has also proactively controlled its expenditures through streamlining its operations and reducing fuel bills, paving the way to a profitable January to September period.
CS Haisheng operates a fleet consisting largely of dry bulk carriers and a handful of chemical tankers and product tankers.
Source: Seatrade Global
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CS Haisheng predicts profit for first three quarters of 2013
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