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Last SAM Shipping bulker sold at auction

The last ship owned by financially troubled Swiss owner SAM Shipping has been sold in a court-led auction in China.

In an online auction held by Tianjin Maritime Court, at the request of a creditor bank, the 2012-built 57,200 dwt SAM Wolf was sold for RMB77.57m ($11.9m), much lower than VesselsValue‘s valuation of $14.56m.

The buyer of the vessel is Xiamen Hanghuan Shipping.

VesselsValue data shows the vessel was the last vessel in the fleet of SAM. In the past year, most of the company’s vessels have been sold off in auctions.

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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