The Vinalines Global bulk carrier will be auction at the starting price of nearly VND59 billion. — Photo marinetraffic.com

HA NOI (Biz Hub) — Viet Nam National Shipping Lines (Vinalines) will conduct an auction to sell bulk carrier Vinalines Global on October 5.

The carrier, built in 1994 with a capacity of 70,000 DWT, will be auctioned at the starting price of nearly VND59 billion (US$6.4 million), which does not include 10 per cent of value-added tax and other expenses.

Vinalines Global is one of six old ships that Vinalines expects to sell this year. The others are Vinalines Trader, Vinalines Fortuna, Vinalines Star, Vinalines Ocean and Vinalines Ruby.

Vinalines bought Vinalines Global in January 2008 at a price of $71 million from India's Great Eastern Shipping Co. Ltd.

In a proposal sent to the Ministry of Transport, Vinalines said it expected the sale of ships would help it cut losses and improve the fleet's operation result.

It is estimated that the six carriers will be sold at a very low price in comparison with their initial price. — VNS