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 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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