CMES’ profit surges 22.6% in Q1 2015

Shanghai-listed China Merchants Energy Shipping (CMES) on 29 April posted a profit of CNY225 million for the first quarter of 2015, surging 22.6% from the same period of 2014.
The company recorded revenue of CNY1.4 billion in the first quarter of 2015, rocketing 106.2% year on year (y/y), and its
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Sainty Marine posts $292m loss in 2014

Shenzhen-listed shipbuilder Sainty Marine sank to losses of CNY1.8 billion (USD292 million) in 2014 on huge asset impairment that resulted from its loans extended to shipbuilder Nantong Mingde Heavy Industry.
For 2014, the company took a provision of CNY1 billion for non-performing loans it had
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