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Fujian Huadong Shipyard transfers yard assets to China Minsheng Bank

Fujian Huadong Shipyard has announced that it has transferred the ownership of its land assets and yard assets to the Fuzhou branch and Xiamen branch of China Minsheng Bank in order to get financing from the bank.

The shipyard said it is now leasing the yard facilities from Minsheng Bank and plans to buy the assets back in two years.

Huadong Shipyard is a subsidiary of Fujian Huarong Marine, and has been included in the latest batch of China’s shipyard white list released by the Ministry of Industry and Information Technology in December 2015.

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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