Guiqin Shipping handymax sold at auction

Guiqin Shipping handymax sold at auction

Xiamen Maritime Court has sold the 2011-built 32,900 dwt handymax bulker Sheng An Da 69 in an online auction today.

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

Fujian-based Fuqing Lianyida Industries, a company mainly engaged in the business of construction materials, bought the vessel at the auction for a price of RMB76m ($10.8m). MSI’s valuation of the vessel is $9.4m.

Guiqin Shipping, a domestic dry bulk operator, has been under court-led restructuring since 2015.

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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