State owned tanker and LNG carrier player Cosco Shipping Energy Transportation (CSET) boosted its headline 2017 net profit by CNY 361m ($56.27m) through a new method of accounting for charter losses.
The move has required the China Cosco Shipping unit to respond to a query on the subject from Shanghai Stock Exchange (SSE) officials.
The improvement in the company’s 2017 profit attributable to shareholders comes largely from only making provisions for charters set to end within one year.
