在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

US EUROPE AFRICA ASIA 中文
Business / Companies

Sainty Marine first listed company to file for bankruptcy

By Yang Ziman (China Daily) Updated: 2016-02-20 09:53

Sainty Marine first listed company to file for bankruptcy

Sainty Marine Corp Ltd has become China's first listed company to apply for bankruptcy and reorganization. [Photo / IC]

Sainty Marine Corp Ltd has become China's first listed company to apply for bankruptcy and reorganization, after it said it had been hit hard by the slowing global shipbuilding industry.

Nanjing Intermediate People's Court has accepted the Jiangsu province firm's application, the company said in a statement Wednesday, after making losses for two years.

Sainty Marine suspended trading in its stocks on Aug 6 last year.

Established in 2007, the firm is a subsidiary of Jiangsu Guoxin Investment Group Ltd, a State-owned company that manages government-authorized assets. It floated on Shenzhen Stock Exchange in 2011.

The company said it lost 4.9 billion yuan to 5.8 billion yuan ($751 million to $890 million) last year, up from 1.8 billion yuan in 2014, which it blamed on sluggish demand and low prices from the international market.

According to its earnings statement for the third quarter last year, its debts had risen to 8.3 billion yuan as of Sep 30. It has now cut its staff from 1,188 at the beginning of last year to just 114.

A number of shipbuilding companies applied for bankruptcy in China last year, including Dalian-based STX Shipbuilding, the country's biggest foreign-owned shipbuilder, and Zhejiang Zhenghe Shipbuilding Co Ltd.

The Baltic Dry Index, a measure of the world's dry and tanker shipping markets, hit a historical low on Jan 5 of 468, falling from an all-time high of 11,793 in 2008.

Shen Zhengyuan, a researcher at Beijing-based CI Consulting, said falling demand for bulk commodities, an oversupply in the global raw materials market, and low oil prices will keep the BDI depressed for a while yet.

"The shipping industry has been experiencing a slowdown since the 2008 financial crisis and shows no sign of recovery," said Shen.

"Shipping companies may get rid of ships that generate low profit or require high maintenance to lower their costs. Or they can weather the winter through cooperation and merger, to consolidate resources and increase their resilience to risk."

Statistics from the China Association of the National Shipbuilding Industry show total new shipbuilding activity in 2015 increased by 7.1 percent to 41.84 million deadweight tons.

The domestic industry's global new orders, however, were 31.26 deadweight tons, down by 47.9 percent from 2014.

Shanghai International Shipping Institute has already predicted a rise in bankruptcy and reorganization this year, starting with companies involved in dry-bulk shipbuilding.

A report from the institute said more than 60 percent of dry-bulk shipbuilders have been making prolonged losses, and nearly 40 percent of those are in financial difficulties.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产视频一区二区在线 | 中文字幕免费在线观看 | www.chengren | 亚洲成人动漫在线观看 | 成人免费高清视频 | 中文字幕自拍 | 久久精品视频网站 | 超碰国产在线 | 欧美在线a | 国产精品久久久久久久久久久久久久 | 国产中文一区 | 成年人视频在线播放 | 日日夜夜草 | 欧美性一区二区 | 国产成人精品亚洲男人的天堂 | 国产超碰在线 | 欧美激情在线观看 | 国产免费成人 | 91操操操 | 高清乱码男女免费观看 | 亚洲福利视频一区 | 亚洲免费看片 | 男人天堂久久 | 精品视频免费在线观看 | 狠狠草视频 | 中文字幕手机在线观看 | 色综合天天综合网国产成人网 | 成人精品在线 | 欧美精品日韩少妇 | 欧美成人免费 | 狠狠艹狠狠干 | 中文字幕在线免费观看视频 | 国产乱人伦 | av网站免费看 | 亚洲免费网站 | www国产精品 | 日韩图色 | 国产毛片在线 | 福利av在线 | 色综合婷婷 | 日本成人一区二区 |