Haizhou Shipyard files for bankruptcy

Haizhou Shipyard files for bankruptcy

Zhejiang Haizhou Shipyard, one of the largest ship repair yards in China, has filed for bankruptcy.

The yard has been suffering financial difficulties for the past few years and has been involvied in a large number of financial disputes with creditors.

In the first creditors’ meeting, 396 creditors of the shipyard requested repayment of RMB3.36bn ($490m) of debt in total.

A local court also put the shipyard on a credit black list due to its inability to comply with court orders.

Currently Haizhou Shipyard is looking for new investors to take over the yard. At its peak, Haizhou Shipyard repaired over 200 ships in 2015.

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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