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China Shipping Development scraps three bulkers

China Shipping Development Co (CSDC) has sent three old dry bulk carriers to the scrapyard as part of its ongoing efforts to optimise its fleet structure.

Lee Hong Liang, Asia Correspondent

April 21, 2014

1 Min Read
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The Chinese shipping firm will demolish two 19,500 dwt sister vessels – the 1986-built Zhen Fen 9 and the 1985-built Zhen Fen 10. The 20,333-dwt, 1985-built Ba Da Ling will also be scrapped.

The old bulkers were owned by CSDC's subsidiaries China Shipping Bulk Carriers and Shanghai Yinhua Shipping. Financial details of the deal were not disclosed.

Meanwhile, CSDC had earlier predicted a net profit of RMB50m ($8m) to RMB60m in the first quarter of financial year 2014 on the back of an improving oil tanker and dry bulk shipping markets.

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.

 

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