Last SAM Shipping bulker sold at auction

The last ship owned by financially troubled Swiss owner SAM Shipping has been sold in a court-led auction in China. In an online auction held by Tianjin Maritime Court, at the request of a creditor bank, the 2012-built 57,200 dwt was sold for RMB77.57m ($11.9m), much lower than VesselsValue‘s valuation of $14.56m. The buyer of …

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