China has confirmed the auction of an ABG Shipyard-controlled VLCC through its online platform Taobao.

The state news agency Xinhua said the 300,000-dwt Varada Blessing (built 1993) was sold for CNY 81m ($11.77m).

The buyer was named as Natalia Shipping. The vessel received 19 offers from six bidders.

At the start of January, TradeWinds cited brokers as saying that cash buyer Global Marketing Systems (GMS) had bought the VLCC for about $11.5m.

The