Dry CargoGreater China

Zosco sells last ship

Chinese state-run dry bulk shipping company Zhejiang Ocean Shipping (Zosco) has completed the liquidation of its ship assets after selling the last ship in its fleet.

The company, which was declared bankrupt by Hangzhou Intermediate People’s court in October 2016 due to debt issues, has been selling its assets to pay off debts.

Zosco sold its last ship, a 3,900dwt general cargo ship, Bao Yue Shan via auction at Zhejiang Shipping Exchange yesterday for RMB4.38m.

Zosco’s sister company Zhejiang Shipping completed a restructuring in 2016 following a series of liquidations of subsidiaries including Wenzhou Shipping, Taizhou Shipping and Wuzhou Shipbuilding.

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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