China spends over $1bn in three months on secondhand ships

China has taken just over three months to become the first country in 2019 to spend more than $1bn buying secondhand ships, data shows.

It took Chinese buyers just 94 days to break the billion-dollar level, according to data provided to TradeWinds by VesselsValue.com (VV).

But although 94 days is fast, it's not quite as fast as a spree five years ago by one of China's biggest shipowning rivals.