The Hong Kong and Shanghai-listed company booked a net profit of CNY 16.6m ($2.7m) for the 12 months to 31 December, up 60% on the total seen a year earlier.
Revenue dropped by over a third to CNY 4.16bn as the company handed over 11 ships, half the total seen in 2012.
Profit margins also fell due to declining ship values, the company said in its end of year statement.
However 2014 already looks like being a much better year with 28 vessels due to hit the water.
