Yangpu Sinowell Shipping boxship sold by court

Yangpu Sinowell Shipping boxship sold by court

Guangzhou Maritime Court has sold 2006-built multipurpose 648 teu containership Zhong Liang Dong Hai via an online auction.

The vessel was detained by the court due to a financial dispute between the ship’s owner Taicang Zhongliang Shipping, a subsidiary of Yangpu Sinowell Shipping, and its creditors.

Zhejiang Chaoyue Shipping has acquired the vessel for a price of RMB19.7m ($2.88m), higher than the court valuation price of RMB17.9m.

Yangpu Sinowell Shipping is now in deep financial trouble and has suspended its operations since June.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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