Court auctions Zhejiang Hangchang Shipbuilding tanker

Court auctions Zhejiang Hangchang Shipbuilding tanker

Ningbo Maritime Court has announced that it will auction a chemical tanker, Chemical Libra, at the request of the creditors of Zhejiang Hangchang Shipbuilding on November 17.

Zhejiang Hangchang Shipbuilding suspended operations in 2013 and went bankrupt in 2014 due to debt issues.

Bidders are required to pay a fund gurantee of RMB5.9m ($928,000) to join the bidding. The starting price for the vessel is RMB40m ($6.3m).

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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