Nanjing Tanker forecasts fourth year of losses

Nanjing Tanker, the tanker arm of Sinotrans & CSC, has warned investors in a release that the company might suffer losses in four consecutive years and delist from the stock exchange.

Nanjing Tanker reported a net loss of RMB728m for the first half of 2013. Stock trading of the company was suspended earlier this year. The company will possibly delist from Shanghai Stock Exchange next year after the annual results are released.

However, parent company Sinotrans & CSC has been working on saving the company through bringing in new investors.

Source: Sino Ship News