Shanghai: Wang Yuewen, general manager of Chongqing Chuanjiang Shipping, a company operating a cargo shipping business on Yangtze River, committed suicide by jumping off a building on July 4. His wife Ren Zhonghui, vice general manager of the company, is also suspected to have jumped into Yangtze River after leaving a suicide note at home and gone missing since.
Chongqing Chuanjiang Shipping was established by Wang Yuewen and Ren Zhonghui in 1997 and is one of the leading container shipping companies on the Yangtze River in terms of shipping capacity. The company operates a fleet of 66 feeder cargo vessels with a total capacity of 382,000dwt and 20 container trucks.
According to the website of the company, it planned to expand its fleet size to 100 vessels, and shipping capacity to 30,000 teu by 2017, and go public in three years to bring in new investors.
Police are investigating the case, while local reports suggest that the suicide of the couple is due to debt issues amid the current depressed market condition in the shipping sector.