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China Merchants Energy Shipping plans to sell eight old bulkers

China Merchants Energy Shipping (CMES) has agreed to a plan to sell or scrap eight elderly dry bulk carriers over the next one year.

Lee Hong Liang, Asia Correspondent

June 27, 2014

1 Min Read

Kalyakan - stock.adobe.com

The bulk carriers selected for sale would be 20 years old and above, CMES announced to the Shanghai Stock Exchange.

The Chinese tanker and bulker owner said the board believes that the move will help to renew its dry bulk fleet.

Earlier this month, CMES had sold a 1992-built VLCC Kai Yong to the scrapyard for RMB83.91m ($13.43m).

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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