Dry CargoGreater China

Qingdao Maritime Court to auction Reliance Shipping bulker

Qingdao Maritime Court has announced that it will auction bulk carrier Cabot Aviva, owned by Hong Kong-based Reliance Shipping, at the request of China’s Bank of Communications.

Bank of Communications applied for the auction due to a loan contract dispute with Reliance Shipping. The vessel was pledged as collateral in the contract and is now detained at Qingdao. It will be auctioned on February 29.

The court has required creditors related to the vessel to register within 60 days and bidders are required to pay a fund guarantee of RMB2m to join the auction.

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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