Chinese tanker giant Cosco Shipping Energy Transportation (CSET) has returned to profit after a successful 2022 when rates surged following Russia’s invasion of Ukraine.
In a note to investors, the Hong Kong and Shanghai-listed company said it is likely to record net profits of CNY 1.28bn to CNY 1.58bn ($190m to $234m) in 2022.
It suffered an annual loss of CNY 4.99bn
