Zhong An Shipping

Chinese Fred Cheng led shipowner and operator Shinyo International paid $45 million for 2 capesize and 1 panamax dry bulk carriers of troubled Shanghai-based Zhong An Shipping Co. Zhong An Shipping Co. is led by Shi Kaicheng. 2003 built capesize dry bulk carrier 177K DWT M/V Lin Jie, 2011 built panamax dry bulk carrier 79K DWT M/V King Peace and 2002 built 177K DWT M/V King Sail is paid $45 million.