China Shipping Haisheng disposes of bulker

China Shipping Haisheng disposes of bulker

Shanghai: China Shipping Haisheng, a listed unit of China Shipping Group, has announced that it is going to dispose of 29-year-old 39,000dwt bulker Chang Bai Shan, which is currently operated by its subsidiary Guangzhou Zhenhua Shipping.

China Shipping Haisheng is looking to raise funds and plans to apply for a RMB500m ($80.65m) loan from China Shipping Group Finance Company as well as issuing RMB2bn ($322.6m) worth of new shares.

China Shipping Group is currently trying to give up its control of the company by selling its 14.11% stake in the subsidiary.

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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