SHANGHAI: China Zhongchang Marine has faced RMB330 million net losses in 2014, also the following RMB81.24 million losses in 2013.
According to stock exchange regulations, the company’s stock will be put into the “special treatment” category, which has a daily trading limit of 5%, after losses in two consecutive years.
The company attributes the great loss to depression in the dry bulk shipping market.
In the meantime, Zhongchang Marine announced that it has sent three aged bulkers in the fleet “Zhong Chang 58”, “Zhong Chang 68” and “Zhong Chang 88” for scrapping.
