Last Five Stars Fujian ship to be auctioned

Last Five Stars Fujian ship to be auctioned

Ningbo Marine Court is going to hold an auction to sell the 2010-built capesize bulker Five Stars Beijing through online platform Taobao on December 6.

The 179,800 dwt bulker is the last ship belonging to the now defunct Five Stars Fujian Shipping.

In August, Beihai Maritime Court sold the company’s capesize bulker Five Stars Fujian for around $24.8m. Greek owner Safe Bulkers acquired the vessel and renamed it Mount Troodos.

Five Stars Fujian has been suffering a financial crisis since 2016 and all assets of the company had been seized by creditor banks.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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