Court fails to sell Diyuan Shipping bulker torn apart by storm

Court fails to sell Diyuan Shipping bulker torn apart by storm

Guangzhou Maritime Court has failed to sell the 2005-built, 21,600 dwt handy bulker Di Jian in an auction today, after the vessel was torn in two by a storm a few days ago while berthed near Shidao, Shandong.

Di Jian broke into two pieces after fracturing during the storm and both parts are currently stranded near shore. However, the court decided to auction the broken vessel anyway after a revaluation.

The vessel was listed for sale at a starting price of RMB5.65m ($820,000) in the auction but failed to attract any bidders.

The court ruled to auction four bulkers of defunct Shantou Di Yuan Shipping last year and so far three of the vessels have been sold and Di Jian is the last vessel left in Di Yuan’s fleet.

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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