Beijing: Nanjing Tanker, the oil transport arm of Sinotrans&CSC, has launched a new LPG trading business entering into the international LPG transport sector, according to information released on the website of the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC).
Due to overcapacity in the domestic market and increasing competition, the company has decided to expand into foreign routes. The company is preparing to deploy a second LPG vessel to trade overseas, the tanker operator said.
Last year, Nanjing Tankers recorded a net loss of RMB1.24bn, its third consecutive year of losses. [02/07/13]
