China's Shandong Shipping has cashed in on rising bulk carrier values with the sale of a 10-year supramax.
The state-owned company scored top-dollar bids for the vessel on Guangzhou Shipping Exchange's online auction platform GSE on Friday last week.
Six bidders vied for the Chinese-built, 56,500-dwt Shandong Hai Sheng (built 2011), which was sold for CNY 110.1m ($17.1m), topping the $15.98m
