COSCO Shipping Energy has warned that its profits will be no more than 900 million yuan ($133 million) in the first half of 2017, down 51% on a year earlier. That is partly the result of the sale of its dry bulk business, but includes a slide of at least 19% in the income of its oil business. A cited 40% to 60% drop in average daily revenues is a surprise given global tanker rates increased 6% on a year earlier average across the first half. That does include a second quarter that was weaker than the first, however. The warning may therefore relate to volumes handled. Analysts may alread...