Antong Holdings, parent company of Chinese domestic operator Quanzhou Ansheng Shipping, will receive around US$8.4 million in government subsidies, after disclosing estimated losses of at least US$428 million for 2019.
Antong was placed under judicial management to restructure its debts on 18 December 2019 after failing to settle payments to suppliers, including container lessors and bunker suppliers. The company said it also risks being delisted from the Shanghai Stock Exchange.
A company...
https://container-news.com/government-pays-to-refloat-troubled-domestic-carrier-antong/