Guangzhou Maritime Court has announced that six bulkers belonging to Guangdong Lanhai Shipping are going to a third round of auctions.

Since the company defaulted on loans to local branches of China Construction Bank and Bank of China in 2014, the court held auctions for the vessels in November and December last year, but didn't manage to sell them.

Founded in 2004, Guangdong Lanhai Shipping had been engaged in domestic and international cargo transportation, coal trading and port investment. The company went bankruptcy last August, with a total of 20 ships going to auction to repay debts.