Chang Jiang Shipping Group Phoenix Co., Ltd. (CSC Phoenix) plans to sell 55 bulk carriers aged 28 years or above, the China-based listed shipowner has recently announced.
The company expects to gain RMB4m from the sale.
The company said it can optimize its fleet structure after the transaction, because the bulk carrier market is sluggish at present.
Mumbai-based Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell its newbuilding Kamsarmax dry bulk carrier to an undisclosed buyer.
The 81,600dwt Jag Akash is currently under construction at Tsuneishi Heavy Industries (Cebu) Inc., the Philippines, and will be delivered to GE Shipping in August/September 2015, after which it will be delivered to the new owner.
After the sale of the Jag Akash, GE Shipping will operate a fleet of 30 vessels, comprising 21 tankers and 9 dry bulk carriers with an average age of 9.6 years and an aggregate tonnage of 2.36 million dwt.
The company's newbuilding orderbook now stands at three 82,000dwt Kamsarmaxdry bulk carriers under construction at Jiangsu New Yangzi Shipbuilding Co. Ltd.,China, and one 50,000dwt MR product tanker being built by STX (Dalian) Shipbuilding Co. Ltd., China.