On October 28, 2014, attorney Wang Darong from Dacheng’s Xiamen office represented a Greek bidder in an auction held in Xiamen Maritime Court for “AMIN 2”, a tanker made in 2009 and of Iranian nationality.
The auction proceeded in a heated atmosphere, in stark contrast to the gloomy shipping market fraught with ship auction failures. Bidders called out their bids in turns, starting from a price of RMB245mln. After rounds of bidding, the Greek bidder represented by Wang was found to compete with a Hong Kong bidder. They had 150 more rounds of battle before the Hong Kong bidder won the bid with an offer of RMB324mln, RMB79mln more than the starting price.
