Shipping companies spring to hope, expand fleets

HANGZHOU - A recovery in the shipping market has buoyed optimism among Chinese shipping companies, with many once again buying new boats to expand their fleets.

Zhongchang Marine Co Ltd in East China's Zhejiang province was among those betting on better days to come.

Its president, Huang Shenghui, said he has finally seen a glimpse of hope after years in trouble as an industry downturn persisted in the wake of the global financial crisis 10 years ago.