Fenghai Ocean Shipping tanker to be auctioned by court

Fenghai Ocean Shipping tanker to be auctioned by court

Qingdao Maritime Court will hold an auction for Dongguan Fenghai Ocean Shipping’s product tanker Feng Sheng You 16 via online platform Taobao on June 4 at the request of Dongying Linghang Port Company due to a contract dispute.

The starting price for the 2007-built product tanker is RMB10.5m ($1.6m).

Fenghai Shipping has more than 40 court cases lodged against it since last year. It currently owns a fleet of over 20 tankers, some of which have been seized by banks.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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