Shaanxi-based coal trader Nanye Group has further increased its shareholding in domestic dry bulk shipping operator CSC Phoenix by 5%.
It is Nanye Group’s third major CSC Phoenix share acquisition in the past four months, increasing its shareholding in the company to 15%, only 2.89% less than the controlling shareholder, Tianjin Shunhang Shipping.
When contacted by Splash, an official of Nanye Group said the company did not rule out the possibility to further increase shareholdings CSC Phoenix in the future.
CSC Phoenix’s controlling shareholder Tianjin Shunhang Shipping is currently in a liquidation process under a court ruling.
CSC Phoenix said the liquidation of Tianjin Shunhang Shipping will not affect the company’s operation immediately, but may result in an ownership change of the company.