Greater ChinaTankers
Nanjing Shenghang Shipping acquires chemical tanker
Chinese domestic tanker owner Nanjing Shenghang Shipping has announced the acquisition of 5,700dwt chemical tanker Yong Cheng 58 from Zhoushan Yongcheng Shipping for RMB76.6m ($11.1m).
Shenghang Shipping is currently the charterer of the vessel and Yongcheng Shipping choose not to extend the chartering contract when it expires. Shenghang Shipping decided to acquire the vessel in order not to affect the company’s business operations.
In January, Shenghang Shipping announced a fund raising plan under which it will raise up to RMB112.6m ($16.4m) through issuing new shares, which will help fund the acquisition of the chemical tanker and replenish working capital.