Chinese domestic dry bulk operator CSC Phoenix has announced a plan to acquire a secondhand 50,000 dwt supramax bulker.
The vessel will be used for domestic coastal shipping operations, although an official sale and purchase agreement has yet to be signed.
CSC Phoenix hopes the new acquisition will help the company to solve its capacity shortage issue. The company has been suffering a shortage since it failed to extend charter contracts for 15 vessels with its former owner Sinotrans & CSC.
Last year, CSC Phoenix acquired 2000-built handymax bulker Jun Ling, since renamed Chang Yao Hai.
CSC Phoenix is set to be taken over by Nanye Group, a coal trader in Shanxi province and current second largest shareholder of the company, after the group become the debtee of the company’s controlling shareholder Tianjin Shunhang Shipping, which is currently in a liquidation process.