Working Conditions Aboard the Oriental-Phoenix

In a recent auction, a maritime vessel was successfully sold for an impressive $3.2 million to buyers from China. This sale highlights the increasing interest from Chinese investors in marine assets, reflecting the dynamic nature of the global shipping market. The auction, which drew significant attention, showcased the vessel's value and potential among international buyers.

On July 25, 2018, the Ningo Maritime Court is set to hold a significant auction for the Handymax bulk carrier, 'Avlemon'. This vessel has been in legal custody following a detention request by CIMC Sinopacific Offshore due to Aroania Maritime’s failure to settle repair fees exceeding RMB 10 million owed since 2016. The situation worsened as Aroania Maritime has since abandoned not only the ship but also its crew at the repair yard, who have gone unpaid for several months. The auction will kick off with a starting price of RMB 22.4 million (approximately $3.5 million). Aroania Maritime is currently embroiled in multiple lawsuits and has left two out of its three vessels in similar circumstances, including the 'Amsel' in Varna.