Chinese domestic dry bulk shipping operator CSC Phoenix has put up a list of nine candidates for the election of seven director positions on its board.
The move follows 42 out of 49 employees from the company’s key shipping operation team submitted letters of resignation last month, including the general manager of the shipping department.
Splash has seen the applications and found that six out of nine candidates are not from a shipping background. Sources close to the company tell Splash that the company still hasn’t been able to fill vacancies in several key operation roles.
Shenzhen Stock Exchange also sent an inquiry letter to CSC Phoenix, showing concerns about the company’s continuity in the near future.
CSC Phoenix’s operations crisis first started after the company reported capacity shortage issues at the end of May after it failed to extend new charter contracts for a total of 13 bulkers with its former parent Sinotrans & CSC.