Greater China
Last Union Rich Shipping vessel sold at auction
Ningbo Maritime Court has sold a 1997-built multi-purpose heavy list vessel Ying Rich via an online auction.
The heavy lift vessel, which is also capable of carrying 650 teu containers, was detained by the court at the request of creditors of the company. It was sold to individual buyer Zhong Zhe for RMB7.2m (1.06m), lower than $1.96m valuation by VesselsValue.
Shanghai-based Union Rich Shipping mainly operated in the domestic shipping business and following the sale its entire fleet has been cleared out.