China Merchants Energy Shipping Co., Ltd (601872.SH) estimated that its net profits in the first three quarters of this year rose 400 to 430 percent from 313.07 million yuan in the same period of last year, the company announced on Thursday in a filing with the Shanghai Stock Exchange. CMES attributed the profit hike to the booming oil transport market, a boost in its shipping capacity from China VLCC, and government subsidy for ship write-off.
Latest comments