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 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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