The six bulk carriers put on auction block of Chinese bulker operator Guangdong Lanhai Shipping have yet to find buyers as a Chinese maritime court ordered a third round of auction.

The vessels are identified as five Supramaxes namely Lan Hai Chuang Ye, Lan Hai Tuo Zhan, Lan Hai Li Liang, Lan Hai Fen Jin, and Lan Hai Fa Zhan, together with a Panamax vessel Lan Hai Zhao Yang, according to a statement of the Guangzhou Maritime Court.

The knock-down prices of the vessels were further reduced to a range from CNY70.3m (US$11.2m) to CNY116.7m each, down from the range of from CNY109.9m to CNY182.4m each in last year's first round of auction. The third round of auction will be held March 17, 2015.

In addition, another seven bulkers of Guangdong Lanhai have not changed hands after being put on the auction block for the second time in November 2014.

In early 2014, the Guangzhou Maritime Court ruled that Guangdong Lanhai should pay off bank loans due 2013 to the China Construction Bank. The bulker operator has not made any payment yet, according to the court.