ContainersGreater China

Management of Hong Sheng Gang Tai Shipping goes missing

Shanghai: The management of financially troubled Shanghai Hong Sheng Gang Tai Shipping, a domestic containership operator, have gone missing leaving behind huge unpaid debts.

According to an employee of the company, the company has debts of RMB200m in total. Major creditors include SIPG, Far East Leasing, China Merchants Bank and China Construction Bank.

The company promised the creditors that it would repay the debt on February 10. However, the whole management of the company including the president Ding Genyou, have been found missing when the creditors showed up at the office of the company. The company’s valuable assets, computer server and financial books have also been removed.

Shanghai Hong Sheng Gang Tai was established in 2009, it has another nine offices in Guangzhou, Qingdao, Rizhao, Quanzhou, Taicang, Nanjing, Tianjin, Taizhou and Nantong. It sold three vessels in 2014 and currently has four vessels in its fleet.

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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