Court to auction Hong Xiang Shipping vessel

Court to auction Hong Xiang Shipping vessel

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.

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.

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