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.