The dry bulk shipping firm, a subsidiary of logistics firm Sinotrans-CSC, announced it will sell another 38 vessels after it transferred 13 ships to its subsidiaries last month. The vessels are likely to be small river vessels or barges rather than its core bulker fleet.
CSC Phoenix also plans to sell its 10% stake in Ma'anshan Port Group and 5.4% ownership in Hubei Pinge Coal Port.
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