Greater China

Shandong Huahai vessel to be auctioned

Dalian: Qingdao Maritime Court has announced that it will auction a 36,000dwt vessel, Huahai 1001, which is currently under construction at Shandong Huahai Shipbuilding, on November 28.

Shandong Huahai Shipbuilding and Yantai Pacific Offshore went into a financial dispute during the construction of the vessel. The court had kept custody of the vessel and ordered Shandong Huahai to pay relevant debt to Yantai Pacific Offshore.

The court has decided to auction the vessel following Shandong Huahai’s failure to pay the debt within the given time limit. [28/10/14]

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