Feeder containerships are set to glut the Chinese domestic market in the wake of Nan Tsing Container Line’s collapse, and a group of local owners caught with ships on charter to Nan Tsing are trying to make shippers pay hefty fees for cargoes caught on arrested ships.
The line, whose officials are not taking calls, has an eventful history.
Formerly state-owned Nan Tsing, closely connected to the island province of Hainan but based in Shanghai, was privatised in 2008 by Wenzhou-based industrialist Pan Tingyu, whose Tingyu Group rescued it from the brink of bankruptcy.
