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Guangdong Renke Shipping to offload bulker fleet

Guangdong Renke Shipping to offload bulker fleet

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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.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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