NEEQ-listed dry bulk shipping operator Fujian Guohang Ocean Shipping has resumed stock trading following eight months of trading suspension.
The company had suspended stock trading since November 18, 2016 pending a large announcement.
Fujian Guohang explained that the company had planned to enter the livestock carrier sector as it saw opportunities from the increasing livestock import volume into China.
However, the company has now decided to give up on the project, as it couldn’t make any substantial progress after several rounds of negotiations with potential partners.
According to Guohang, the company’s concerns for the project included high investment costs and the long shipbuilding period required.
Currently Fujian Guohang operates a fleet of 38 bulk carriers.