Administrators list JES assets for sale in auction

Administrators list JES assets for sale in auction

The administrators of bankrupt Chinese shipbuilding group JES has listed the company’s assets in one package for sale via online auction on October 15.

The listed assets include JES’s real estate property, shipyard equipment and facilities as well as inventories. The starting price of the auction is RMB2.01bn ($281m).

The shipyard’s Singapore-listed unit JES International Holdings filed an application with the High Court of Singapore in February to place the company under judicial management, after JES was declared bankrupt by a Chinese court in Zhejiang in October last year.

Once a major private shipyard in China, JES ceased operations in August 2015 due to a major financial crisis and chaos within the Jin family, which controls JES.

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.

Related Posts