Greater China

More creditors to freeze Nanjing Tanker assets

Shanghai: The delisted oil shipping arm of Sinotrans & CSC, Nanjing Tanker, announced today that it has received civil rulings from two courts to freeze more of its assets as it has been unable to repay loans.

Wuhan Maritime Court has ordered the freeze of RMB713m worth of assets of the company under the request of China Agricultural Bank, while Nanjing Intermediate People’s Court has ordered to freeze RMB167m worth of the company’s assets under the request of China Minisheng Bank.

Nanjing Tanker said it is currently negotiating with the banks trying to find solutions. [05/06/14]

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