Lanhai vessels for auction

Guangzhou: Six bulk carriers of Guangdong Lanhai Shipping are ready for auction due to failure to pay back bank loans.

The six vessels, Lanhai Fa Zhan, Lanhai Li Liang, Lanhai Tuo Zhan, Lanhai Chuang Ye, Lanhai Fen Jin and Lanhai Chao Yang, owned by Guangdong Lanhai Shipping, are scheduled to be put up for auction on November 14, as the company cannot pay the ship mortgage loans to local branches of China Construction Bank and Bank of China.

Another seven vessels of the company will be put up for sale in a second auction on November 11. Lanhai’s previous auction of the seven vessels took place last month.

Guangdong Lanhai Shipping was set up in 2004, and has been engaged in domestic and international cargo transportation, coal trading and port investment. [13/10/14]

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