Di Yuan Shipping bulker pair sold off by court

Di Yuan Shipping bulker pair sold off by court

Guangzhou Maritime Court has sold two bulk carriers belonging to financially troubled Shantou Di Yuan Shipping via an online auction.

The 2009-built 27,600 dwt bulker Di Sheng was sold to Huaian Fuhang Shipping for RMB63.5m ($9.24m) and the 2011-built 50,700 dwt Di Kun was sold to undisclosed buyer for RMB100m ($14.5m).

The court has had to suspend auctions for another two Di Yuan Shipping bulkers, Di Xiang and Di Jian, as the two ships ran aground near Weihai Shandong while anchored during a typhoon this week.

Di Yuan suspended operation last year and most of the company’s vessels have been seized by court.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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