Greathorse Shipping in Shanghai has played down its ownership stake in North China Shipping (NCS), a subsidiary of Hebei Ocean Shipping Co (Hosco).

Market talk pointed to Great­horse injecting funds into NCS and becoming possibly the company’s major shareholder but Tiger Group Investments chairman Graham Porter denies that Greathorse has invested in NCS.

Instead, he says Greathorse and other companies within Tiger Group were creditors of Hosco.

“They