Guangzhou Maritime Court has listed 2011-built heavy load carrier Yue Shen Zhou 5 for an auction sale through online platform Taobao on February 11.
The vessel has been detained by the court due to the owner Guangzhou Shenzhou Shipping being unable to solve its debt issues. The company has been put into a creditor blacklist by the court.
The starting price for the vessel in the auction is RMB49m ($7.05m).
Shenzhou Shipping is a subsidiary of East Sunrise Group, which operates a fleet of ten bulk carriers and seven heavy load/lift vessels.