With less than 24 hours remaining until the closure of the auction for 24 fishing vessels owned by the Mozambican Tuna Company, also known as Ematum, the government has yet to receive any bids.

The auction, which commenced earlier this month, is scheduled to conclude on Feb. 21, 2025, with officials aiming to raise approximately $10.6 million from the sale, Club of Mozambique reported.

The fleet, comprising 21 tuna boats and three trawlers, has been moored in the Port of Maputo for nearly a decade. Despite being described as "like new" with all equipment in excellent condition, the vessels have seen minimal operational time, with some logging as few as 10 hours at sea, G Captain reported.

The Ematum fleet has been at the center of a significant financial scandal since its acquisition in 2013. The $850m loan secured to purchase the vessels was part of a larger $2 billion hidden debt scheme, referred to as the "tuna bond" scandal. Former government ministers have since been jailed, while Swiss bank Credit Suisse agreed an out-of-court settlement following its involvement in the scheme.