Yangzijiang Shipbuilding has reported a 17% year-on-year decline in third-quarter net profit to CNY 585m ($88m) on the back of impairments and foreign exchange losses.
China’s largest privately-owned shipbuilder said revenue was CNY 3.58bn, down 34% on the corresponding period last year, due to lower trading volume.
Since late August, Yangzijiang has secured shipbuilding orders for five bulkers and a single chemical tanker worth a total of $139m.
