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CSDC to scrap bulker for RMB12m

CSDC to scrap bulker for RMB12m
Shanghai: China Shipping Development Company (CSDC) is scrapping its ageing bulker Chang Jian for RMB12m at associate yard Digang Dili. The 31-year-old vessel was constructed by Shanghai Jiangnan Shipyard and is 6,190 ldt.

The sale price comes up to $306 per ldt. No valuation has been done on the vessel and as at 30 June had been fully depreciated on CSDC's books, resulting in a net gain from the sale of RMB12m, which will used as working capital, CSDC said in a stock market
announcement.

TAGS: Shipbreaking
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