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CSC Phoenix to sell elderly panamax bulker
Chinese bulk shipping operator CSC Phoenix has put its 1986-built panamax bulker Yao Hai up for sale. The company said the Japanese-built 69,497 dwt vessel is going to reach the compulsory scrap age limit by November this year.
Bulkcarrier to be auctioned
CSC Phoenix announced that it will auction the “Yao Hai” at Beijing Equity Exchange under the request of creditor China Merchants Bank (CMB). The vessel was pledged to CMB in 2008 in a RMB75m loan deal. CSC Phoenix’s subsidiary Shanghai Huatai Shipping will join the bidding for the vessel, which has a starting price of RMB43.78m. The move will accelerate the company’s restructuring process and it is making efforts to resume stock trading from 2015 on.
Ukrainian captain in fatal sea collision off Lantau loses appeal
Yuriy Kulemesin, a Ukrainian captain involved in a deadly 2008 shipping accident, must serve out his 18-month sentence on charges related to endangering life at sea, the Court of Final Appeal ruled on Friday. The ruling upheld a Court of Appeal judgment last year on one of Hong Kong’s deadliest marine disasters. Kulemesin was the master of the oil rig supply ship Neftegaz-67, which capsized and sank, killing 18 crew members, after colliding with the bulk carrier Yao Hai off Lantau Island on March 22, 2008. Rejecting his appeal against conviction, Chief Justice Geoffrey Ma Tao-li said Kulemesin would have to “serve the remainder of his 18-month sentence”. But the Court of Final Appeal judges cleared Tang Dock-wah, the chief pilot on board the Yao Hai, and allowed his appeal against conviction. More at http://www.scmp.com/news/hong-kong/article/1156094/ukrainian-captain-fatal-sea-collision-lantau-loses-appeal
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