The resignation crisis at Chinese bulk shipping operator CSC Phoenix continues, with another nine managers from the company’s crewing subsidiary Wuhan CSC Crewing resigning.
This is the third group resignation at CSC Phoenix in the past seven months. In June, 42 out of 49 employees from the company’s main shipping operation team resigned and another eight employees from the company’s heavy cargo transportation department quit in December.
Splash understands all these employees have moved back to Sinotrans & CSC, the former owner of the company.
CSC Phoenix said the latest resignation will affect the sustainability and profitability of its crewing business.
The resignations started after CSC Phoenix had a fall-out with Sinotrans & CSC as the latter claimed Tianjin Shunhang Shipping, the current owner of CSC Phoenix, had failed to fulfill an agreement between the two companies.
CSC Phoenix is now in the process of expanding its fleet to solve capacity shortage issue, having recently acquired two 23,800 dwt handysize bulk carriers from Minsheng Bank via auctions.