Bloomberg reported that Chang Jiang Shipping Group Phoenix Co will order six bulk ships for CNY 1.7 billion on rising use of inland and coastal waters for cargo shipments.

Wuhan, Hubei province based company in a statement to the Shenzhen Stock Exchange said that the 45,000 DWR vessels will be delivered between March 2011 and December 2011. Each ship is expected to make a profit of more than CNY 26 million.

Mr Fu Yuning chairman of shareholder China Merchants Holdings Co said that China wants to move more coal, grain and other goods by sea and river as this is cheaper, less polluting and more reliable than road haulage. Shanghai Port China busiest eventually aims to move 30% of domestic cargo via the Yangtze River.