Court to auction Jiangsu Dulin Shipping product tanker

Court to auction Jiangsu Dulin Shipping product tanker

Ningbo Maritime Court will auction off 2013-built product tanker Du Hang 16 via online platform Taobao on February 26.

The 4,705 dwt tanker is owned by Jiangsu Dulin Shipping, which went bankrupt in 2017, and proceeds from the sale will be used to repay debts to the company’s creditors.

The starting price for the vessel is RMB13.44m ($2.13m).

Jiangsu Dulin Shipping used to operate in oil and chemicals sector of the domestic coastal and river markets. The company was hit by a financial crisis in 2016 and went into a liquidation process in 2017, with most of the company’s vessels sold by courts for debt repayment.

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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