Three Dongfang ships to be auctioned

Shanghai: Ningbo Maritime Court has announced that it will put three tankers “New Achiver”, “New Prosperity” and “New Mighty” from the financially troubled Dongfang Shipbuilding on auction on October 25, according to a request from China Agricultural Bank.

Dongfang Shipbuilding used to own seven chemical tankers, three of them are detained by China Agricultural Bank and the other four have been detained by Credit Suisse.

Dongfang Shipbuilding, Anhui’s largest private shipbuilder, has commissioned business advisory firm FTI Consulting to look for new investors to restructure its assets.  [20/09/12]

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