Court to action off four Di Yuan Shipping bulkers

Court to action off four Di Yuan Shipping bulkers

Guangzhou Maritime Court will hold auctions for four bulk carriers of financially troubled domestic bulker operator Shantou Di Yuan Shipping online on August 22.

The four vessels – the 2009-built 14,228 dwt Di Xiang, the 2005-built 12,812 dwt Di Jian, the 2011-built 28,746 dwt Di Kun and the 2010-built 16,555 dwt Di Sheng, were detained by the court earlier this year due to debt disputes with creditors. The starting auction prices for the four vessels are RMB28.2m, RMB18.4m, RMB56.1m and RMB29.6m respectively.

Di Yuan Shipping mainly operates in the domestic coastal and river bulk shipping market. The company suspended operations last year and most of the company’s vessels have been seized by court.

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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