Dry CargoGreater China

Court to auction off Qingdao Marine Shipping bulker

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.

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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