Qingdao Maritime Court will hold an auction for the 2009-built 33,000 dwt handy bulker He De through online platform Taobao on September 25.
The vessel is owned by Qingdao Marine Shipping, part of Qingdao Zhenghe Shipping, which has been involved in a number of debt disputes with creditors and saw some of its vessels sold by courts.
The starting price for the vessel in the auction is RMB33.67m ($4.69m), while VesselsValue‘s valuation of the vessel is $6.38m.
Currently Qingdao Marine Shipping’s fleet has two bulkers and three general cargo vessels.
Last week, the administrators of bankrupt Zhenghe Shipbuilding, a subsidiary yard of Qingdao Zhenghe Shipping, sold the entire assets of the shipyard via an online auction.