Nanjing Tanker eyes LNG shipping market

Nanjing Tanker eyes LNG shipping market

Nanjing Tanker, the tanker unit of Sinotrans & CSC, is considering diversifying its business into the LNG shipping market, the company’s senior executive said in an investor meeting.

According to Zhou Bin, general manager of Nanjing Tanker, the company will keep focusing on medium and smaller size tankers while looking for opportunities to diversify its business into the emerging LNG market.

“China is increasing its import of LNG, which will bring new business opportunities for the development of the company,” Zhou said.

China, the world’s second largest buyer of LNG, just announced plans to increase its LNG imports four times over the next two decades.

Nanjing Tanker currently operates a fleet of 43 vessels made up of 38 tankers and five LPG carriers.

Nanjing Tanker relisted its shares on Shanghai Stock Exchange last week, and saw its stock slump to daily decline limits for five trading days in a row since the first day of trading.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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