Greater ChinaShipyards

Sinopacific Offshore restructuring nears completion

China International Marine Containers (CIMC) has announced that Sinopacific Offshore has officially become an indirect wholly-owned subsidiary of CIMC Enric.

The name of Sinopacific Offshore has been changed to Nantong CIMC Sinopacific Offshore & Engineering and a new business license of Sinopacific Offshore has been issued by local authorities in Qidong in Jiangsu province.

In July, CIMC Enric acquired the full equity of Sinopacific Offshore for RMB799.8m ($117.58m), and the shipyard resumed full operations in August following the approval of its restructuring plan.

Further restructuring of Sinopacific Offshore is still in process.

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.
Back to top button