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Detained Varun Shipping tanker sold at auction

Detained Varun Shipping tanker sold at auction
Jason Jiang March 19th, 2018 http://splash247.com/detained-varun-shipping-tanker-sold-auction/

Shanghai Maritime Court has sold the 1997-built aframax tanker Amba Bhakti via an online auction on Taobao.

The vessel was abandoned by Indian owner Varun Shipping and detained by the court since 2016 at the requests of the ship’s crew due to unpaid salaries and by creditor China Shipping Industry due to a ship maintenance contract dispute.

According to auction files, individual Chen Yongkang acquired the vessel by offering the highest bid of RMB38.62m ($6.09m).

Shanghai Maritime Court said the crew of the ship will have priority to get payment from the proceeds of the sale.