China’s Yangzijiang Shipbuilding has acquired unfinished 79,600 dwt bulk carrier JSH413 at bankrupt Jiangsu Shenghua Shipbuilding yesterday via an online auction.
Yangzijiang Shipbuilding won the auction by offering the highest bid of RMB54.35m ($8.55m) for the vessel.
According to the auction files, the ship has been abandoned for years and some parts of the ship might not meet IMO requirements.
Jiangsu Shenghua Shipbuilding was a joint venture established by Najing Shenghua Shipbuilding and Singapore’s Sentek International. The shipyard went into a bankruptcy restructuring process in 2016.