Greater ChinaShipyards

Major Tianjin yard bankrupt

In Asia, shipyards these days rarely become extinct, they merely change hands once the coffers run dry.

In China, it has been announced that debt-laden Tianjin Xingang Ship Heavy Industry is to close as a corporate entity. The yard, founded 81 years ago, has already been through one bankruptcy process at the start of the century.

The northern Chinese state-run facility is involved in both newbuilds and repair work and has a floating dry dock, six quays and a graving dock among its huge working area.

Other state-run entities are expected to take over the shipyard with Dalian Shipbuilding Industry Co (DSIC) to run its shipbuilding division and Shanhaiguan Shipbuilding taking over the repair side of the business.

In both China and South Korea, many yards have been resuscitated under new owners in recent years.

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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