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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.

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