2018-07-23 16:00Financial Performance - The company expects a net profit attributable to shareholders for the first half of 2018 to be between RMB -280 million and RMB -210 million[2]. - The estimated net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between RMB -282 million and RMB -209 million[3]. - In the same period last year, the net profit attributable to shareholders was RMB 851.6 million, with a net profit of RMB 1.03376 billion after excluding non-recurring gains and losses[5]. - The company did not experience any significant non-recurring gains or losses during the first half of 2018[2]. - The company emphasizes that the profit forecast is based on preliminary estimates and will be detailed in the official half-year report[8]. - There are no major uncertainties affecting the accuracy of this profit forecast[7]. Market Conditions - The average daily earnings for VLCC vessels fell to USD 5,468 per day, a decrease of approximately 78% year-on-year[6]. - The freight rate for the Middle East to China (TD3C) route was WS 43.22, down 18.5% compared to the same period last year[6]. - International fuel oil prices increased by approximately 28% year-on-year, contributing to the decline in earnings[6]. - The decline in demand was influenced by geopolitical events, including reduced oil exports from Venezuela and slowing import growth from major countries like China[6].