Nanjing Tanker resumes normal stock trading

Nanjing Tanker resumes normal stock trading

Nanjing Tanker, the tanker unit of Sinotrans & CSC, has announced that Shanghai Stock Exchange has accepted the company’s application to remove risk warning from its stocks after the company reported a profit of RMB360m ($53.4m) for the year of 2018.

Nanjing Tanker was delisted in 2014 after three years of consecutive losses. The company completed a debt restructuring after the delisting and relisted on the stock exchange‘s “special treatment” category, which has a 10% of daily trading limit, on January 8.

The company’s stock will resume normal trading on March 29.

Nanjing Tanker transferred all its VLCC asset to China VLCC, the crude tanker unit of China Merchants, as part of its debt restructuring and now focus on smaller tankers. It operates a fleet of 42 vessels, made up of 37 tankers and five LPG carriers.

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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