Chinese bulk shipping operator CSC Phoenix has suffered yet another round of group resignations with all eight employees from its heavy cargo transportation department quitting.
This follows 42 out of 49 employees from the company’s main shipping operation team resigning in June and moving back to Sinotrans & CSC, the former owner of the company.
CSC Phoenix said the sustainability of its heavy cargo transportation business is now in doubt following the resignations.
CSC Phoenix had a fall-out with Sinotrans & CSC as the latter claimed Tianjin Shunhang Shipping, the current owner of CSC Phoenix has failed to fulfill an agreement between the two companies, under which Shunhang Shipping promised to transfer all the shipping assets of CSC Phoenix back to Sinotrans & CSC for free after the company completed a restructuring.
Sinotrans & CSC also refused to extend the charter of 13 bulkers with CSC Phoenix earlier this year and requested CSC Phoenix to remove the “CSC” trademark from its name.