Dry CargoGreater China

China Shipping Development charters nine bulkers from sister firms

Shanghai: China Shipping Development has announced that its subsidiary, China Shipping Bulk Carrier, has inked two ship charter contracts with sister firms China Shipping Haisheng and China Shipping Industry.

Under the contracts, China Shipping Bulk Carriers will charter six 57,000dwt bulkers from China Shipping Haisheng and three 55,000dwt bulkers from China Shipping Industry for a period of eight months. Total chartering fees for the nine vessels is RMB85m ($13.7m).

The vessels will be deployed for domestic coastal and international operations.

China Shipping Development reported a net profit of RMB65m ($10.4m) for the first quarter of 2015, representing year-on-year growth of 27%.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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