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.
