Greater China

Energy group eyes Ningbo Marine

Ningbo Marine Company Limited looks set to be changing hands, with discussions underway between parent company Ningbo Marine Group and Zhejiang Provincial Energy Group Company Ltd over the potential sale.

Ningbo Marine is engaged in ocean bulk cargo transport, primarily coal, and has struggled in the current market turning in losses of RMB36.73m in the first quarter of 2012.

Zhejiang Provincial Energy Company was set up in 2001 and provides electric power construction services to government-owned power enterprises in Zhejiang province.[23/07/12]

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