Dry CargoGreater China

CSC Phoenix acquires supramax bulker

Photo of Jason Jiang Jason JiangFebruary 11, 2020
19 Less than a minute

Chinese dry bulk operator CSC Phoenix has announced the acquisition of 2003-built 52,400 dwt supramax bulker Shen Yu 89.

The Tsuneishi Cebu-built vessel was sold by Ningbo Haiyue Shipping for a price of RMB65.73m ($9.42m), much higher than VesselsValue’s valuation of $6.53m.

CSC Phoenix hopes the new acquisition will help the company solve its capacity shortage issue. The vessel will be used for domestic coastal shipping operations.

Photo of Jason Jiang Jason JiangFebruary 11, 2020
19 Less than a minute
Photo of Jason Jiang

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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