Greater China

Sinotrans CSC in talks with CSSC to order 10 bulkers

Beijing: Sinotrans CSC, the largest integrated logistics service supplier in China, is reportedly in negotiations with China State Shipbuilding Corporation (CSSC) to order up to 10 supramax bulkers.

Sinotrans CSC is planning to order 4+2 64,000dwt bulkers at CSSC Chengxi Shipyard and 2+2 64,000dwt bulkers at CSSC Huangpu Shipyard.

Earlier in 2012, Xie Shaohua, CFO of Sinotrans Shipping, said in a results announcement that the company planned to take the opportunity of low vessel prices to expand the fleet and improve the quality and competitiveness of the fleet, and bulkers would be the main ship type to order.

An industry analyst said Sinotrans choosing CSSC over its own subsidiary shipyards might be related to a 17% tax rebate which the government is currently offering for ship orders at CSSC.  [07/01/13]

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