Shanghai: Financially troubled Sainty Marine has announced that the shipyard’s total overdue bank loans has now reached RMB421.7m ($67.9m), up from the earlier reported RMB357.3m ($57.6m).
Additionally, Jiangsu Yizheng People’s Court ruled to freeze RMB50m ($8.06m) worth of Sainty Marine’s assets at the request of Jiangsu Yizheng Rural Commercial Bank over a loan dispute. Even some of the vessels under construction at the yard have been frozen by the creditor banks.
Sainty Marine said the company has been actively working on solutions with the banks to solve the loan issues.
