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2012 October 29   11:26

Nanjing Tanker losses widen to $47mln

Nanjing Tanker Corporation (NJTC) stayed in the red in the third quarter ended 30 September 2012 amid the sluggish global oil tanker market, Seatrade Asia online reports.

NJTC, the subsidiary of China Changjiang National Shipping (Group) Co, registered a net loss of RMB294.5m ($47.2m) in the third quarter, worse than the loss of RMB230.5m seen in the same period of 2011.

Revenue during the quarter stood at RMB1.59bn compared to RMB1.29bn a year ago, the Shanghai-listed company announced on Saturday.

NJTC added in the announcement that it expects a full-year net loss in the financial ending 2012.

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