CSC Phoenix loses 42 of 49-strong shipping operation team

Nearly all of Chinese bulk shipping operator CSC Phoenix’s shipping operation team have left the company, with 42 out of 49 staff, including shipping department general manager Lou Xiaoyun, submitting their resignations. CSC Phoenix said that it might be unable to find replacements in the short term, and said that an emergency group had been established to deal with the issue. The company reported capacity shortage issues at the end of May, having failed to extend new charter contracts for 13 bulkers from former parent company Sinotrans & CSC. That downsized the company fleet to four self-owned vessels and two chartered ships. In May the company bought Astra and Ocean Treasure, two handymax-sized 16-years-old bulkers. These were due to be delivered on June 20th