Ansheng Shipping, a major domestic container shipping company in China, has sent the 698 teu feedermax boxship Hai Su 10 for demolition.
The vessel, delivered by Fujian Mawei Shipbuilding in October 2007, is the youngest ship sent to scrap over the past week.
Antong Holdings, the parent company of Ansheng Shipping, is currently dealing with lawsuits for claims totalling around $86.8m against the company due to the illegal actions of its president Guo Dongze.
The board of Antong has urged Guo to solve the issue and is looking at solutions including equity transfer, asset restructuring and loans to raise fund and resolve the disputes with creditors and guarantee holders.
