Yangzijiang Shipbuilding has sold four kamsarmax bulkers discarded by their owners at the height of the dry bulk crisis for CNY 551m ($79.9m).
The sale of the four 82,000-dwt vessels has helped the Singapore-listed Chinese shipbuilder make a positive start to 2017.
Its first quarter net income jumped over 50% compared to a year ago to CNY 692.6m, while revenue surged 73% to CNY 4.7bn.
