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Singapore-flagged ship 'Varada Blessing' sells on Taobao - for S$16.7 million: Report

22-02-2017 Hits:1 News administrator - avatar administrator

by Singapore-based company Varada One, has been berthed in the Pearl River estuary in China following what the report described as an "admiralty dispute".  The ship had been put up on Taobao for auction twice but failed to reach its reserve.  In December 2016, Guangzhou Maritime Court decided to try again, Xinhua said.  The listing drew 33,000 viewers online and received 19 offers from six bidders. Malta-based company Natalia Shipping finally won the bid.  According to the Xinhua report, courts in China are now increasingly auctioning seized property online. More than 120 courts in Guangdong have registered on Taobao's judicial sales platform, with online...

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