BACKER of the Great Southern Shipping Australia (Pty Ltd) project, Rizhao Port Co, is under pressure, with local media reporting mass sackings.
Logistics publication Splash24/7 reported former president, Du Chuanzhi, had been taken away by Chinese authorities as part of corruption investigations and that 89 middle managers had been dismissed.
These developments apparently occurred within days of GSS Australia Pty Ltd going into liquidation, although there is no suggestion of a link.
Lloyd’s List (international) recently reported on the resignation of Rizhao Port’s chief financial officer, Shi Ruxin, apparently for ‘personal reasons’, with Sun Shaobo appointed in his stead.
Rizhao was once China’s largest iron ore port but faces a strong challenge from neighbouring Qingdao, which can handle the giant 400,000 dwt valemax carriers.
Rizhao Port Co recorded a cargo throughput of 158m tonnes for the first nine months of 2016, down 0.11% compared to the same period last year.
Additional reporting: Cichen Chen