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.
