Shipping & Freight #car carrier#auction
26-Year-Old Car Carrier Chang Sheng Hong Fetches $42 Million at Shanghai Auction, Triple Reserve
The 4,310-ceu car carrier Chang Sheng Hong was sold at auction in Shanghai for approximately $42 million, three times its reserve price of RMB95 million ($14 million). The 26-year-old vessel, built in 2000 at Croatia's Uljanik shipyard, had previously traded as Dresden and was renamed in 2017 after entering Chinese ownership. The sale underscores an extremely tight car carrier market driven by China's surging vehicle exports, with up to 2 million cars shipped on containerships this year.
Jul 22, 2026 1 source