Last Union Rich Shipping vessel sold at auction

Last Union Rich Shipping vessel sold at auction

Ningbo Maritime Court has sold a 1997-built multi-purpose heavy list vessel Ying Rich via an online auction.

The heavy lift vessel, which is also capable of carrying 650 teu containers, was detained by the court at the request of creditors of the company. It was sold to individual buyer Zhong Zhe for RMB7.2m (1.06m), lower than $1.96m valuation by VesselsValue.

Shanghai-based Union Rich Shipping mainly operated in the domestic shipping business and following the sale its entire fleet has been cleared out.

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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