The 4,117-teu YM Shanghai (built 1997) has been bought by the Chinese coastal operator for close to $9m, say brokers. The vessel, which is due for special survey, will be the largest operated by Zhonggu.

The company controls just under 40 vessels comprising smaller multipurpose (MPP) ships, as well as six modern 1,700-teu boxships delivered in the past two years. It also has 10 newbuildings of 2,500 teu on order at Zhoushan Wuzhou Shipyard for delivery next year.

Zhonggu