Last Golden Fortune Ship Management vessel to be sold by court

Last Golden Fortune Ship Management vessel to be sold by court

Qingdao Maritime Court will hold an auction for the 2011-built MPP vessel Dongtai Baohong via online platform Taobao on May 9.

The 12,500 dwt vessel has been detained by the court due to the owner’s debt dispute with creditors.

The starting price for the vessel in the auction is RMB33.098m ($4.93m), while VesselsValue places a valuation on the vessel of $7.68m.

According to VesselsValue, the vessel is the last ship in the fleet of Qingdao-based Golden Fortune Ship Management.

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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