ecns [expanded by feedex.net]
ecns
Nanjing Tanker feels tide of recession
http://www.ecns.cn/business/2013/05-01/61483.shtml
May 1st 2013, 12:54
2013-05-01 21:54 chinadaily.com.cn Web Editor: Mo Hong'e
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Trading in Nanjing Tanker Corp shares has been suspended since April.
After reporting a 1.2 billion yuan ($193 million) loss in 2012, the company may become the first State-owned company to be delisted from the Shanghai Stock Exchange if it cannot make a profit in 2013, sources said.
Nanjing Tanker Corp is not the only shipping giant hit by the global downturn, as the nation's four major listed State-owned shipping companies posted an aggregated loss of 12.28 billion yuan.
The China Shipowners' Association submitted a proposal to the government for a bailout and are awaiting a response, said Zhang Shouguo, vice-chairman of the CSA.
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