Dry CargoGreater ChinaOperations

Tianjin Shunhang to sell stake in CSC Phoenix

Chinese domestic dry bulk operator CSC Phoenix has announced that the administrators of Tianjin Shunhang Shipping will list its entire 17.84% stake in CSC Phoenix for sale by auction on December 17.

Tianjin Shunhang took over CSC Phoenix from its previous owner Sinotrans & CSC in 2015 but failed in an attempt to restructure it into a dredging company.

CSC Phoenix went into a liquidation process last year and Shanxi-based coal trader Nanye Group took control of the company by increasing its shareholding this year.

Wuhan-based CSC Phoenix reported a net profit of RMB10.85m ($1.65m) for the first three quarter of this year, an year-on-year decline of 63.36%

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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