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Unfinished MPP vessel at Jiangzhou Union listed for sale by auction

A court in Jiangxi Ruichang will hold an auction to sell off an unfinished multipurpose heavylift vessel previously ordered at Jiangzhou Union Shipbuilding.

The ship, which was named BBC Tourmaline, was originally scheduled to be delivered to BBC Chartering in 2016, and according to the auction files the ship is currently around 85% complete.

The court values the vessel at RMB65m ($9.68m) and the starting price of the vessel in the auction, which is scheduled for October 15, is RMB46.8m ($6.9m).

Jiangzhou Union Shipbuilding suspended operations in 2018 due to financial difficulties, and its parent group China Ocean Industry entered into a debt restructuring process last year. 

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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