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 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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