Shanghai: Ningbo Beilun District Court announced that the court will start an auction for bankrupt Ningbo Hengfu Shipping and its subsidiary Blue Sky Shipbuilding on April 3.
The starting price for Hengfu Shipping and Blue Sky Shipbuilding is RMB544m and RMB827m respectively.
Hengfu Shipping and Blue Sky Shipbuilding filed for bankruptcy at the end of 2011. Earlier reports said Chengxi Shipyard was planning on taking over Blue Sky Shipbuilding, but it has gone quiet since then. [20/03/14]