Chinese tanker giant a step closer to delisting

China's second-largest tanker carrier Nanjing Tanker is now headed toward a deficit for the third year in a row, which means an exit from the Shanghai Stock Exchange.

China's second-largest tanker carrier Nanjing Tanker is one step closer to a forced delisting from the Shanghai Stock Exchange. The shipping company expects another deficit in the 3rd quarter 2013.

“The company predicts a loss in the first nine months of 2013. If the company is unable to return to profit in the financial year 2013, shares of the company will cease trading on the Shanghai Stock Exchange after the release of the 2013 annual report,” says the company in a statement according to newsletter Seatrade Global.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Further reading

Related articles

Latest news

See all jobs