Earnings at tanker and LPG carrier owner Cosco Shipping Energy Transportation (CSET) were eroded as tanker rates struggled over the summer.
The VLCC giant said in a statement to the Hong Kong bourse that third-quarter net profit slumped to CNY 808m ($113.5m), from CNY 908m in the same three months of 2023.
Revenue was up at CNY 5.5bn,
