The Shanghai-listed company announced on Tuesday that the vessels sent for demolition were the 52,670 dwt Ming Zhou 29 and Ming Zhou 30, both close to 30 years old.
Ningbo has received the subsidy in full last Friday from Ningbo city’s financial bureau.
In September this year, Ningbo Marine spent RMB510m to purchase three new 50,000 dwt bulkers from a domestic shipyard as part of its fleet renewal plan.
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