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2012 November 29   16:14

CSDC to scrap bulker for RMB12m to scrap bulker for RMB12m

China Shipping Development Company (CSDC) is scrapping its ageing bulker Chang Jian for RMB12m at associate yard Digang Dili. The 31-year-old vessel was constructed by Shanghai Jiangnan Shipyard and is 6,190 ldt, Seatrade Asia online reports.

The sale price comes up to $306 per ldt. No valuation has been done on the vessel and as at 30 June had been fully depreciated on CSDC's books, resulting in a net gain from the sale of RMB12m, which will used as working capital, CSDC said in a stock market
announcement.

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