2000-built car carrier fetches $42m at auction

AI Summary

A 2000-built car carrier named Chang Sheng Hong was auctioned recently for approximately $42 million, significantly higher than its reserve price of RMB 95 million ($14 million). This price is notably high for a 26-year-old midsize pure car and truck carrier (PCTC).

The 4,310 ceu Chang Sheng Hong was sold at auction on Tuesday for around $42m, according to sources, an exceptionally high price for a 26-year-old midsize PCTC. The Shanghai United Assets and Equity Exchange had marketed the China-flagged vessel with a reserve price of RMB95m ($14m), meaning the winning bid came in at roughly three …