China Merchants Energy Shipping (CMES), the main shipping subsidiary of state-backed China Merchants Group, said it sold three bulkers in an effort to dispose of non-core assets.

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In a recent exchange filing, the Shanghai-listed company said the 12,497-dwt CSC Rui Hai and CSC Xin Hai (both built 2012) were sold to Japan’s StarOcean Marine for CNY 40.7m