Shandong Port Ship Transaction Platform publicly auctioned a 66-meter boat belonging to a State-owned enterprise in Qingdao, a coastal city in China's Shandong province, on Jan 11.

After 100 rounds of bidding, the boat was sold for 54.4 million yuan ($7.59 million) to an overseas bidder.

The 66-meter boat belonging to a State-owned enterprise in Qingdao is the first ship auctioned off to an overseas buyer on the Shandong Port Ship Transaction Platform. [Photo/WeChat account: Shandong-Port]

The sale of the boat is the first cross-border transaction involving ships completed by the platform.

The platform has attracted many customers due to its high efficiency and wide customer base. The auction of the ship on Jan 9 attracted more than 10 bidders from home and abroad.

The Shandong Port Ship Transaction Platform is the third largest transaction platform for ships and the largest platform for waste materials disposal in port and shipping, engineering ship leasing and tugboat transaction in China.