China Merchants Energy Shipping (CMES) has sold a multipurpose (MPP) ship in its pursuit of an “asset-light” model for shortsea general cargo business.

The Shanghai-listed company, part of state conglomerate China Merchants Group, said the 14,500-dwt CSC Zhong Hai (built 2005) was sold for CNY 35.8m ($5.59m).

The buyer is British Virgin Islands-registered YHSL, which has 13 bulkers mainly operating in South East Asia.