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Court to auction Hong Xiang Shipping vessel

Court to auction Hong Xiang Shipping vessel

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Shanghai Maritime Court will auction off defunct Xiamen Hongxiang Shipping’s general cargo vessel Hong Xiang 59 via online platform Taobao on August 17.

The starting price of the auction is RMB7.87m ($1.17m).

Hongxiang Shipping mainly operates in the domestic dry cargo sector and has become mired in debt. Most of the company’s vessels have been seized by creditors leading to the suspension of its shipping operations.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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