Jiangsu Tongkang Shipbuilding boss flees, leaving huge debts behind

Jiangsu Tongkang Shipbuilding boss flees, leaving huge debts behind

The boss of Jingjiang-based Jiangsu Tongkang Shipbuilding, Wei Chunding, has fled in an attempt to avoid huge debts, leaving the yard’s employees unpaid, local media is reporting.

Shipyard staff have reported the situation to the local authorities and asked for help in an attempt to get RMB725.73k ($113.6k) worth of unpaid salaries.

Tongkang Shipbuilding was established in 2001, and it mainly builds vessels below 20,000dwt including tankers, bulkers, boxships and tugboats.

In July, the shipyard was selected by Jiangsu Transport Authority as a pilot shipyard to build LNG-powered vessels.

The authorities have started investigations into the case.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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