China Shipping Development charters nine bulkers from sister firms

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 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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