Greater ChinaShipyards

Second Sainty Marine auction fails

The second auction for the entire assets of bankrupt Chinese shipbuilder Sainty Marine has failed today due to there being no bidders.

The starting price of the second auction was lowered by 20% to RMB1.72bn ($265m).

The third auction is scheduled for May 3.

According to the receiver of Sainty Marine, the creditors of the shipyard will hold a meeting soon to discuss the breakup and disposal of the shipyard’s assets if the third auction fails.

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.
Back to top button
Close
Close