Shanghai: Chongqing Chuanjiang Shipping, one of the leading container shipping companies on the Yangtze River, is looking for new investors to save the company following the suicide of Wang Yuewen and Ren Zhonghui, the founders and the only two shareholders of the company.
Zhou Zongkui, a vice general manager of Chongqing Chuanjiang Shipping, told Chongqing local media that the company has around RMB1bn ($161m) debts and it is looking for new investors to restructure the company.
Chongqing Chuanjiang Shipping operates a fleet of 66 feeder cargo vessels with a total capacity of 382,000dwt and 20 container trucks.
“Now the company doesn’t have any money, and our basic operation expenditure plus loan interests every month is about RMB25m ($4.02m) in total. We have to go to liquidation if there’s no investors,” Zhou said.
Currently seven senior managers have established a committee to manage the company.