Third auction of STX Dalian falls through

Third auction of STX Dalian falls through

Dalian: The third auction of bankrupt shipyard STX Dalian and its subsidiaries held by Dalian Intermediate People’s Court fell through on Friday with no bidders.

This follows the failure of the first two auctions of the shipyard, and despite reports suggesting that Dalian Shipbuilding Industry Corporation (DSIC) was considering taking over STX Dalian at the third auction at a knockdown price.

The receiver of the shipyard has managed to sell a livestock carrier at the shipyard for RMB108m ($17.4m). A source from one of the yard’s creditors told Splash that the buyer is very likely to be Australia’s Wellard Group, who had originally ordered the ship in 2011.

STX Offshore & Shipbuilding claimed that it owns two vessels, including the livestock carrier, at STX Dalian and it filed a complaint to Dalian Maritime Court requesting to cancel the auction of the two vessels.

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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