Ningbo Maritime Court has announced it will auction off two bulk carriers owned by Zhejiang Qinfeng Shipping via online platform Taobao on March 17, at the request of Bank of Communications.

Qinfeng Shipping pledged the two bulkers, Qin Feng 1 and Qin Feng 88, to the bank in two separate loan deals in 2013 and 2014. The bank filed a lawsuit against the owner and detained the two carriers last year as the owner was unable to repay the loan.