Greater ChinaOffshoreShipyards

CIMC Raffles to layoff employees

Offshore builder CIMC Raffles is looking to layoff employees amid the depressed market conditions in the offshore sector.

A source at CIMC Raffles told Splash that the company is planning to layoff employees at its Haiyang yard and Longkou yard, and some employees will not get extensions when their contracts expire this year. The layoff will also include some managers at the company.

CIMC Raffles’s Haiyang and Longkou yards have not received any new orders for the past year.

In February, Splash reported that China Merchants Group and CIMC were in talks to merge their offshore businesses. China Merchants Group is the largest shareholder of CIMC, controlling a 25.54% equity stake in the group.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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