Guangdong Renke Shipping to offload bulker fleet

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.

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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