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 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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