Chinese domestic bulk shipping operator CSC Phoenix has signed an agreement with Jiangsu Yongxu Shipping for the acquisition of 2000-built 45,700dwt handymax bulker Jun Ling.
The company announced it had planned to acquire a bulker last week in order to solve its capacity shortage issues.
The price for the Japanese-built vessel is RMB57.53m ($8.37m), while MSI values the vessel at $5.7m. It will be delivered to CSC Phoenix in August.
According to Equasis data, CSC Phoenix currently owns a fleet of five bulk carriers.