Top management quits Ningbo Marine

Top management quits Ningbo Marine

Chinese dry bulk shipping company Ningbo Marine has announced that Chen Dongming, president of the company and Fang Peng, vice president of the company, have both resigned from all their roles in the company.

Ningbo Marine aborted a restructuring at the end of September as China Securities Regulatory Commission rejected its restructuring plan and claimed the plan didn’t meet the requirement of the latest back-door listing rules.

Ningbo Marine reported revenues of RMB493m ($74m) and a net profit of RMB6.37m ($955,010) for the first half of 2016, down 7.71% and up 44.94% year-on-year respectively.

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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