Guiqin Shipping handy bulker to be auctioned by court

Guiqin Shipping handy bulker to be auctioned by court

Xiamen Maritime Court has listed the 2011-built 32,900 dwt handymax bulker Sheng An Da 69 for sale via an auction scheduled on August 4.

The vessel is owned by Guangxi-based Guiqin Shipping and the auction is requested by the company’s creditor PLA 4807 Shipyard, a Chinese army-owned naval yard in Fujian.

The court valued the vessel at RMB59.04m ($8.58m) and the starting price for the vessel in the auction is RMB47.23m. MSI’s valuation of the vessel is $9.4m.

Guiqin Shipping, a domestic dry bulk operator, has been under court-led restructuring since 2015. The company currently has two handy bulkers in its fleet.

 

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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