Nantong Dongxin Shipbuilding to be liquidated

Nantong Dongxin Shipbuilding to be liquidated

A local court in Nantong has ruled to liquidate the assets of Nantong Dongxin Shipbuilding, at the request of a major creditor of the yard.

Dongxin Shipbuilding was established in 2008 and mainly builds bulk carriers. It has been suffering from debt issues and suspended operations in December 2013. Wuxi Xiexing Port Machinery applied with the court to liquidate the shipyard in December 2014. The shipyard still has outstanding shipbuilding projects for six bulk carriers, which were scheduled for delivery in 2016 and 2017.

Currently the creditors of Dongxin have passed proposals for the disposal of the company’s assets and resettlement of employees of the shipyard.

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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