Greater ChinaShipyards

Bank of Jiangsu to sell Taizhou Kouan debt via auction

China’s Bank of Jiangsu is looking to dispose of the creditor debt owed by Taizhou Kouan Shipbuilding via an online auction.

The bank has listed RMB142.6m ($20.88m) worth of debt owed by the shipyard for an online auction sale on September 29 through online platform JD.

Taizhou Kouan Shipbuilding entered into a court-led restructuring in August after it was declared bankrupt by a local court.

VesselsValue data shows the shipyard currently has an orderbook of 15 ships made up of 11 bulk carriers and four tankers.

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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