Zhenghe Shipbuilding seeks new investors

Zhenghe Shipbuilding seeks new investors

Financially troubled Zhejiang Zhenghe Shipbuilding, the shipbuilding subsidiary of Qingdao Zhenghe Shipping, is still making efforts to restructure the yard after it went into a bankruptcy restructuring process in July 2015.

The shipyard released a notice to look for new investors to join the restructuring of the shipyard, and the mode of restructuring can be either equity investment or asset acquisition. It released a similar notice in October 2015 but failed to attract any investors.

Zhenghe Shipbuilding has given a deadline of July 5 for potential investors to apply for the restructuring.

According to the notice, Zhenghe Shipbuilding has been maintaining its operations with about 120 employees. The shipyard currently has an order book of six 67,000 dwt bulkers.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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