Nanjing Tanker’s H1 profits rises 590% in H1 2010

Shanghai Stock Exchange-listed Nanjing Tanker Corporation saw its net profits skyrocket by 590%YoY to CNY 116 million in the first half of 2010.??Over this period, the company business revenue increased 140.52%YoY to 2.153 billion after it shipped 23.53 million tons of energy and chemical products.?? According to the earnings report, the Time Charter Equivalent for the company’s very large crude carriers stood at USD 47,500 dollar per day for the January to June period up by 66.5%YoY.??The company said that it put a new VLCC into operation in the first half of the year and that it plans to put another three into operation by the end of this year.