Chinese State-Run Dry Bulk Company Succumbs to Bankruptcy – Ship & Bunker

Zosco has been declared bankrupt by Hangzhou Intermediate Peoples Court. Chinese dry bulk shipping company Zhejiang Ocean Shipping (Zosco) has been declared bankrupt by Hangzhou Intermediate People’s Court, Chinese media reports. The news comes after Zosco’s principal, Zhejiang Transportation Investment Group (Zhejiang Transportation), i… Read the full article at: http://shipandbunker.com/news/apac/257784-chinese-state-run-dry-bulk-company-succumbs-to-bankruptcy

Chinese State-Owned Shipping Company Declared Bankrupt – Caixin Media

(Beijing) A major Chinese state-owned container shipping company has been declared bankrupt after it struggled to repay debts of 8.45 billion yuan ($1.25 billion). The Hangzhou Intermediate People’s Court in Zhejiang province granted Zhejiang Ocean Shipping Co. Ltd.’s application to liquidate, according to a court document viewed by Caixin. Zhejiang Communications Investment Group Co. Ltd.,…