Greater ChinaShipyards

Court to auction off Jiangsu Shenghua Shipbuilding

Jiangsu Zhenjiang Intermediate People’s Court will start an auction for the entire assets of bankrupt Jiangsu Shenghua Shipbuilding via online platform Taobao on July 27.

Jiangsu Shenghua Shipbuilding was a joint venture established by Nanjing Shenghua Shipbuilding and Singapore’s Sentek International in 2007.

The shipyard went into a bankruptcy restructuring process in 2016 but has failed to reach an agreement with creditors on a restructuring.

CSIC-affiliated Bohai Shipbuilding Industry earlier showed interest to take over the shipyard but a deal never eventide.

The starting price for the shipyard’s assets in the auction will be RMB216.3m ($32m).

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.
Back to top button