Chinese owner CSC Phoenix has won an auction to buy two handysize coastal bulkers from China Minsheng Bank for CNY 76.9m ($11.2m), according to exchange filings.
The 22,907-dwt Zhang Hen Hai (built 2009) and 23,444-dwt Zhang Ling Hai (built 2010) had been leased by Mingsheng on bareboat terms to CSC Phoenix since March 2017.
Both ships, serving in Chinese domestic trades, were constructed at Zhejiang Changhong Shipbuilding.
While CSC Phoenix had the options to acquire the ships when the charters expired, Minsheng decided to put them on an auction platform managed by Alibaba earlier this month.
Shenzhen-listed CSC Phoenix submitted the only bid and won the auction at the base price.
“The purchases can help us maintain our market share effectively, increase our operational efficiency and keep our management stable,” one of the filings said.
According to a company report, CSC Phoenix controlled a fleet of 27 ships totalling 299,400 dwt as of end-June, including eight bulkers, 12 barges and seven tugs as of 30 June.
