Nanjing Tanker applies to resume listing

Nanjing Tanker applies to resume listing

Nanjing Tanker, the oil shipping arm of Sinotrans & CSC, has applied with China Securities Regulatory Commission to resume listing on the stock exchange.

The company was delisted from Shanghai Stock Exchange in 2014 following three consecutive years of losses and became the first state-run company to be delisted.

The company completed a restructuring in January 2015 and transferred all its VLCC assets to China VLCC, a joint venture between its parent Sinotrans & CSC and China Merchants Energy Shipping. Later in 2015, Sinotrans & CSC merged with China Merchants Group and became a subsidiary of the latter.

Since the completion of restructuring, Nanjing Tanker has made profits in two consecutive years, reported a net profit of RMB560m ($81.1m) for the year 2016.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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