Dry CargoGreater China

Guangdong Renke Shipping to offload bulker fleet

Chinese bulker owner Guangdong Renke Shipping plans to sell the only two bulkers in its fleet in order to deal with a debt crisis.

The company has commissioned Guangzhou Shipping Exchange to sell two 2009-built 35,400 dwt handysize bulkers, Ren Ke 1 and Ren Ke 2, en bloc via an auction on November 23.

The starting price for the two vessels in the auction is RMB110m ($16m).

Renke Shipping is the shipping unit of Jiangmen Xinhui Renke Power Group, and the company has been suffering a financial crisis since 2015 and since been involved in a series of debt disputes.

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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