Administrators seek investors to revive Crown Ocean Shipbuilding

Administrators seek investors to revive Crown Ocean Shipbuilding

The administrators of bankrupt Fujian Crown Ocean Shipbuilding have issued a public notice to look for new investors to revive the yard.

Fujian Crown Ocean Shipbuilding and its parent Fujian Crown Sea Shipping were declared bankrupt by a local court last year after the suspension of operations in 2015. Crown Sea’s entire fleet has been sold by the court.

According to the notice, the shipyard has facilities to build ships off up to around 80,000 dwt.

Fujian Shipbuilding Industry Group signed a framework agreement with Crown Sea in 2015 to restructure Crown Ocean Shipbuilding, however the deal eventually fell through.

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