Yangzijiang buys out bulker stakes

Shanghai: Yangzijiang Shipbuilding has bought out the remaining 55% shareholdings in four 92,500 dwt bulk carriers it had bought into with Dohle and Nakona Enterprises.

The shipyard has paid just $5m to snap up these ships which were originally ordered at the beginning of 2012.

Yangzijiang said the move was “consistent with its diversification strategy”. Chinese shipyards, shorn of orders in recent years, have set up their own shipowning divisions, often in Hong Kong, to keep their yards ticking over.  [24/01/14]

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