Chinese shipyard owner and ship operator Maple Leaf Shipping stated that handysize shipowners can not exist with low freight rates during coronavirus recession. Furthermore, handysize shipowners can not oppose loading at Chinese ports, even though restrictions on unloading ports.
Shipowners loading at Chinese ports may confront long quarantines in some destination ports due to coronavirus pandemic and this may not be sustainable at all. However, many handysize shipowners are unable to oppose Chinese cargoes that offer zero in time-charter terms but change the position of the ship from the northern Pacific to the Atlantic.
Chinese shipyard owner and ship operator Maple Leaf Shipping has a fleet of 15 bulk carriers. Some of the company’s bulk carriers are going to bypass all Chinese ports for a while due to coronavirus pandemic.
Maple Leaf Shipping has a small shipyard in China Maple Leaf Shipyard.
Lately, Maple Leaf Shipping established China Handy Bulk Alliance (CHBA) with other handysize bulker owners Shanghai Changhang Shipping and Jiarong Marine.
China Handy Bulk Alliance (CHBA) will increase the handysize shipowners’ fleet performance and reduce market risk. China Handy Bulk Alliance (CHBA) is going to welcome more Chinese handysize shipowners to participate.
Currently, China Handy Bulk Alliance’s (CHBA) fleet comprises of:
- 12 handysize bulk carriers from Jiarong Marine
- 13 handysize bulk carriers from Maple Leaf Shipping
- 5 handysize bulk carriers from Shanghai Changhang Shipping
China Handy Bulk Alliance’s (CHBA) total capacity of 1 million DWT (Deadweight Tonnes).
Chinese shipowner and operator Maple Leaf Shipping sold 2010 built 23K MV Maple Harmony and 2009 built MV Maple Pearl for more than $4 million each vessel.