Dry CargoGreater China
Guangdong Renke Shipping to offload bulker fleet
Chinese bulker owner Guangdong Renke Shipping plans to sell the only two bulkers in its fleet in order to deal with a debt crisis.
The company has commissioned Guangzhou Shipping Exchange to sell two 2009-built 35,400 dwt handysize bulkers, Ren Ke 1 and Ren Ke 2, en bloc via an auction on November 23.
The starting price for the two vessels in the auction is RMB110m ($16m).
Renke Shipping is the shipping unit of Jiangmen Xinhui Renke Power Group, and the company has been suffering a financial crisis since 2015 and since been involved in a series of debt disputes.