Dalian: Ningbo Marine projects that the net loss of the company in 2012 stood at around RMB120m.

The company said, due to the low level of freight rates on both domestic and international markets, plus the lower ship operation efficiency and the high expenditure on fuel and financial issues, the company can not avoid reporting red ink for the past year.

“The predicted loss of the company has no connection with Zhejiang Energy’s takeover, which would not affect the deal at all,” an official from the medium-sized bulker operator told SinoShip News. The owner is close to being bought out by utility firm, Zhejiang Energy. [30/01/13]

-- Source from Sino ship news