As a listed enterprise, China's Nanjing Tanker Corporation, whose profit was just CNY4.23m ($0.62m) in 2009, recently announced the company earned $11.9m in 1st quarter for shareholders.

Nanjing Tanker Corporation expressed their optimism on 2010. The revenue is estimated to hit CNY4.287bn, with operating cost of CNY3.79bn. Meanwhile, 14 ships of 1.52m dwt are schedule to be delivered.

Having experienced financial crisis of last year, Nanjing Tanker expressed that five compatriot fund companies had entered shareholder group.

The report issued by Shanghai International Shipping Centre indicated that Chinese shipping industry faced overall recovery beyond previous expectation.

However, the report also pointed out that the influence of financial crisis still existed. The price war occurred from time to time among ports. In near future, China may weather some kind of fluctuation. The oil shipping companies will earn more but it is not considered to last long.