The administrators of bankrupt Chinese yard Zhejiang Ouhua Shipbuilding have failed to sell the yard’s assets in an online auction closed today.
The assets to be auctioned include the shipyard’s entire land properties, shipbuilding equipment, inventories, as well as eight unfinished vessels.
The starting price for the assets in the auction was RMB1.19bn ($173m).
Splash understands there was only one potential buyer signed up to the auction but the participant didn’t make a bid.
Ouhua Shipbuilding, once a major private yard in China, was declared bankrupt by a Zhoushan court in July last year, and it has so far failed to find new investors to restructure the yard.
