ContainersGreater China

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 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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