China Merchants integrates Zhejiang Eastern Shipyard into Yiu Lian Dockyard

China Merchants integrates Zhejiang Eastern Shipyard into Yiu Lian Dockyard

China Merchants has integrated the former Zhejiang Eastern Shipyard (ZESCO) into its shipbuilding subsidiary Yiu Lian Dockyard.

ZESCO has been renamed Yiu Lian Dockyard (Zhejiang) and become the fifth subsidiary yard of China Merchants.

China Merchants Group acquired a 34% stake of ZESCO from bankrupt South Korean company Hanjin Shipping in a court-led auction in May and now China Merchants controls 88% equity shares in Yiu Lian Dockyard (Zhejiang).

According to Zhu Guiming, deputy general manager of China Merchants Industry Holdings, the company will utilise the new yard for the construction of large scale vessels including semi-submersible vessels and cruise ships.

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