The date of the auction has been set on 10 December 2014.
The dry bulk vessels to be put on auction include Lanhai Chuangye priced at RMB95.44m ($15.51m), Lanhai Tuozhan at RMB95.44m, Lanhai Liliang at RMB116.22m, Lanhai Fenjing at RMB113.94m, Lanhai Fazhan at RMB87.94m, and Lanhai Chaoyang at RMB145.91m.
An earlier auction a few months before had failed to attract any buyers as the vessels were believed to be overvalued.
Lanhai Shipping has a total of about 20 ships being forced by the banks to be put on auction. The Guangdong-based shipowner is reportedly no longer paying its vessel mortgage loans to the banks.
Lanhai Shipping has also cancelled a total of 15 shipbuilding contracts at Chinese shipyards including Rongsheng Heavy Industries, Yangfan Group, Xiamen Shipbuilding Industry, Sanfu Shipbuilding, and Nanjing Wujiazui Shipbuilding.
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