Court to auction Nantong Xiandai Ocean Shipping bulker

Court to auction Nantong Xiandai Ocean Shipping bulker

Wuhan Maritime Court will auction off 21,910 dwt bulk carrier Xia Dian 2 via online platform Taobao on December 19.

The vessel is owned by Nantong Xiandai Ocean Shipping, and has been detained by Wuhan Maritime Court at the request of China Guangfa Bank in a debt dispute.

The starting auction price for the 2008-built vessel is RMB20.43m ($3.08m).

Nantong Xiandai Ocean Shipping mainly operates in the domestic coastal and river bulk shipping business. The company has been involved in a series of debt disputes due to a financial crisis and has been put onto a credit black list by banks.

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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