Dry CargoGreater China

CSC Phoenix to acquire supramax bulker

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.

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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