A Chinese court successfully auctioned an oil tanker through an online site following a legal dispute.
The Guangzhou Maritime Court told Xinhua that a Singapore-flagged vessel known as the “Varada Blessing” was auctioned for about $12 million on at Taobao.com.
The vessel was put up for auction by the Guangzhou Maritime Court twice before the most recent winning bid.
Taobao is a China-based online auction site similar to eBay.
The tanker was previously owned by Varada One Ptd and had been berthed in an estuary following a legal dispute.
According to Xinhua, the winning bid for the vessel was submitted by Natalia Shipping Co.
The vessel is about 1089 feet long and 190 feet and has a gross tonnage capacity of 157,000 tonnes.
