Chaosheng Shipping chemical tanker to be auctioned by court

Chaosheng Shipping chemical tanker to be auctioned by court

Ningbo Maritime Court has issued a notice that it will hold an auction to sell the 2012-built product tanker Chao Sheng 8 on June 17 via online platform Taobao.

The vessel is currently detained by the court at the request of the creditors of Chaosheng Shipping.

The court’s valuation of the 19,900 dwt Chinese-built tanker is RMB77m ($11.4m) and the starting price in the auction is RMB61.6m ($9.1m). MSI values the vessel at $19.3m.

Zhoushan-based Chaosheng Shipping mainly operates in the domestic tanker shipping business. The company is currently dealing with a number of court cases due to debt disputes with creditors.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

Related Posts