Rongsheng Slumps After Forecasting Annual Loss

Rongsheng Slumps After Forecasting Annual Loss

Qilai Shen/Bloomberg

“The stubbornly low freight rate has deterred shipping companies from placing new orders because they expect vessel prices to keep dropping,” Amos Zhang, a Shanghai-based analyst at Shenyin & Wanguo Securities Co., said in a phone interview today.