The oil transport fundamentals continued to rise, and COSCO Shipping Energy Transportation's net profit increased significantly in the first half of 2023.
On July 6, COSCO Shipping Energy Transportation announced the expected increase in performance in the first half of the year. It is estimated that the net profit attributable to the parent company in the first half of the year will be 2.56 billion yuan, up 1510.1% year on year.
The announcement states that the main reason for the expected increase in performance for this period is that the rates of the international oil transportation market in the first half of the year showed strong performance amidst severe fluctuations.
By Xinde Marine News Sarah Yu
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