News / Supercharged charter rates lure Chinese entrepreneurs into buying ships

Credit Martina Li.

A number of Chinese companies have been incorporated especially to take advantage of soaring hire rates in the overheated charter market.

The Loadstar has learned that since mid-2020, when the container market began booming, a few companies bought second-hand vessels, mainly feeder sizes, for long-term charter to liner operators.

One such entrepreneur is former shipbroker, Zhou Yupeng, principal at Shanghai Aoyang Shipping Service.

Through Hong Kong-registered Goship Group, Mr Zhou reportedly purchased the 1997-built 614 teu SCO Qingdao from Shanghai Jinjiang Shipping in January. ...