Two former Sainty Marine OSVs to be auctioned –

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

One of the two vessels has already completed sea trials and 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 Precious Shipping on a newbuild contract dispute regarding the construction of eleven 64,000 dwt bulk carriers.

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