Dry CargoGreater China

Three Guiqin Shipping bulkers sold by administrator

The administrators of bankrupt Guiqin Shipping, once a major shipping company in Guangxi province, sold three vessels of the company via online auction yesterday.

The administrators listed the last five vessels of the company for sale in the auction, and managed to sell two handy bulkers, 2009-built 13,700 dwt Sheng An Da 66 and 2011-built 16,570 dwt Sheng An Da 67, and 1999-built general cargo vessel Sheng An Da 9. The auctions did not attract any bidders for the remaining two vessels, Sheng An Da 108 and Sheng An Da 12.

Sheng An Da 66 and Sheng An Da 67 were sold for RMB32.79m ($4.6m) and RMB44.94m ($6.3m) respectively, while Sheng An Da 9 fetched a price of RMB1.92m.

Last month, Xiamen Maritime Court sold the company’s 2011-built handymax bulker Sheng An Da 69 for $10.8m.

Guiqin Shipping was declared bankrupt in 2015, and most of the company’s fleet have been sold by courts and administrators.

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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