Sinopacific Offshore restructuring nears completion

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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