Greater ChinaOffshoreShipyards

Two former Sainty Marine OSVs to be auctioned

The administrators of the bankrupt Sainty Marine has listed two offshore support vessels for auction via online platform Taobao.

One of the two vessels has already completed sea trials while the construction of the other vessel is not finished.

The starting price for the two vessels en bloc in the auction, which is scheduled on August 4, is RMB35.94m ($5.15m).

Sainty Marine went bankrupt in 2016 due to a major financial crisis. It recently entered into a settlement agreement with Thailand’s Precious Shipping on a newbuild contract dispute regarding the construction of eleven 64,000 dwt bulk carriers.

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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