The receiver of bankrupt shipyard Mingde Heavy Industry will auction off an abandoned bulk carrier at the shipyard.
The vessel MD153 was one of four 38,000 dwt vessels abandoned by Canadian owner Algoma, which won an arbitration award against the shipyard and collected refunds for the abandoned vessels.
The auction of the vessel will start on online platform Taobao on August 7, with the starting price set for RMB58m ($8.57m).
The receiver of Mingde managed to sell abandoned vessel MD152 via auction in February.
In January, Nantong Xiangyu Offshore Equipment took over Mingde Heavy Industry for RMB576m ($83.8m).