Ningbo Marine announced Friday that its subsidiary Ningbo Marine Mingzhou Highway Company has signed a contract with Zhejiang Energy Group to borrow a one-year loan of RMB135m with an annual interest of 6%.
Ningbo Marine said the loan will ease the financial pressure of the company and it will all be used to repay expiring loans.
Ningbo Marine reported a net loss of RMB22.43m in the first half of 2013.
Source: Sino Ship News
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Ningbo Marine borrows loan from parent
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