SPP Shipbuilding back in business

SPP Shipbuilding back in business

SPP Shipbuilding is officially back in business. The Korean yard, stymied by creditors from issuing refund guarantees for months, is now deemed to be on an even keel.

Creditors have carried a resolution on allowing new profitable orders to be accepted. The shipbuilder – which is made up of three yards – is up for sale, with a local company SM Group, the owner of Korea Line Corp, the preferred bidder for one of the yards.

SPP, a leading product tanker specialist, is holding discussions with parties from Indonesia and Iran over significant ship orders.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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