Greater China

Judger sells abandoned vessel

Shanghai: Judger Shipbuilding, a private shipyard in Zhejiang on the verge of bankruptcy, has sold a 82,000 dwt bulker abandoned by a Hong Kong owner to an unnamed owner. The vessel “Ever Judger” was delivered to the owner yesterday.

In order to help the company improve its financial situation, Judger Shipbuilding had been trying to sell two 82,000dwt bulkers abandoned by the Hong Kong owner.

According to Zheng Xiaoxu, general manager of Judger Shipbuilding, the sale of the vessel is big step forward for the company to get out of their current dilemma, while the company tries to solve its debt crisis through a restructure.

Zheng said the shipyard has resumed construction for the other bulker and it is scheduled to be completed around March 2015.

“We are trying to cooperate with large scale state-run companies, they offer funds and we offer the shipbuilding facility, it will also get us more support from government and banks,” Zheng added. [23/01/14]


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