China Shipping Development to order three bulkers

China Shipping Development to order three bulkers

Shanghai: China Shipping Development (CSD) has announced that the board has approved its 51% owned subsidiary, Jinghai Shipping, to order three 6,600dwt bulkers at a domestic shipyard.

Jinghai Shipping is joint venture between China Shipping Development and steel producer Shougang Group.

CSD said it is expected add a total of eight bulkers with total capacity of 516,000dwt to its fleet in 2015. The company reported a net profit of RMB310.9m ($50.03m) for the year 2014, year-on-year growth of 113.52%.

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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