AsiaShipyards

Pressure builds for ABG Shipyard

India’s largest private shipbuilder ABG Shipyard, which is in dire financial trouble, has failed to hook in a new investor. Vietnam-based Masan Group had been linked with taking a stake in the yard, but local media is now reporting the Vietnamese firm has withdrawn its interest in ABG.

The yard’s creditors are now mulling selling of its assets in order to recover some of the debts owed.
ABG has been going through a corporate debt restructuring since last year.

New Delhi has recently announced a raft of packages to boost shipbuilding in the country as part of its ‘Made in India’ campaign.

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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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