Ningbo Maritime Court has announced that it will auction a chemical tanker, Chemical Libra, at the request of the creditors of Zhejiang Hangchang Shipbuilding on November 17.

Zhejiang Hangchang Shipbuilding suspended operations in 2013 and went bankrupt in 2014 due to debt issues.

Bidders are required to pay a fund gurantee of RMB5.9m ($928,000) to join the bidding. The starting price for the vessel is RMB40m ($6.3m).