Rongsheng Heavy Industries bulkers auctioned off

Rongsheng Heavy Industries bulkers auctioned off

Qingdao Maritime Court has announced that it will auction two 76,000dwt bulkers from Rongsheng Heavy Industries at the request of Penglai Zhongbai Jinglu Shipbuilding on October 30.

Rongsheng Heavy Industries quit the shipbuilding business and was renamed to Huarong Energy after a restructuring in March this year.

Penglai Zhongbai Jinglu Shipbuilding was commissioned by Rongsheng to build the vessels, and applied with the court to auction the vessels after a contract dispute with Rongsheng.

Bidders are required to pay a fund guarantee of RMB20m ($3.14m) to join the auction for the two vessels, which are still under construction at the yard.

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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