CSC Phoenix to dispose of a further 18 vessels

Shanghai: Financial troubled CSC Phoenix has announced that the board of the company has agreed to dispose 14 auxiliary vessels and four river cargo ships considering the company’s current situation.

The average age of the 18 ships is 35 years, and have a total net value of RMB 59.37m.

Meanwhile, the company also announced the appointment of a new chairman, Wang Tao, who will replace Zhu Ning as the new head. [27/11/13]

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