Dry CargoGreater China

Zhongchang Marine resumes regular trading

Zhongchang Marine has announced that Shanghai Stock Exchange has agreed to cancel the trading limit on the company’s shares as it has returned to profit.

The shares of Zhongchang Marine was put into the special treatment category, which had a daily trading limit of 5% in May 2015, after consecutive losses in 2013 and 2014, according to Chinese listing rules. The company returned to profit in 2015 with an annual net profit of RMB25.84m ($4m).

Zhongchang Marine said it plans to decrease the self-owned vessels in the fleet and use more chartered vessels to minimise risk amid the continued tough market condition in the dry bulk shipping market.

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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