China Merchants tanker arm targets Yangtze fleet renewal

China Merchants-controlled Nanjing Tanker is planning to invest up to RMB191.72m ($28.7m) in ten 4,000 dwt crude oil barges as it moves to upgrade its fleet serving refineries along the Yangtze River. The Shanghai-listed owner has approved the investment through wholly owned subsidiary Nanjing Yangtze River Oil…