China's Xiamen Maritime Court has recently annnounced it will auction handymax bulk carrier Guan Hai 308 under Fujian Crown Sea Shippping via online platform Taobao at the request of CITIC Asset Management on April 17.

Crown Sea Shipping pledged the vessel to CITIC Asset Management in a financing deal. After the former failed to make repayment, the latter decided to sell off the 48,000dwt vessel.

The vessel's staring price is RMB47.11m (US$6.8m).