A court in the UK has sentenced in absence Zhu Guohua to 18 months in jail over a bungled dry bulk shipping deal done with Swiss trader Bunge.
Zhu controls Chinese dry bulk line Huaya Maritime which has had a serious charter contract dispute with Bunge. The two companies went into an arbitration in London last year, which ended in Bunge’s favour, however Zhu’s firm has ignored the ruling and the penalties imposed despite numerous warnings.
Huaya Maritime is registered in Marshall Islands and headquartered in Qingdao, China. It owns three bulk carriers.