Greater ChinaShipyards

State-run player completes restructuring of Zhoushan Penglai Shipyard

State-run enterprise Ningbo Ningshing Group has completed the restructuring of bankrupt Zhoushan Penglai Shipyard and rebranded the yard as Ningshing Shipyard.

Zhoushan Penglai Shipyard went bankrupt last year due to a financial crisis and administrators of the shipyard sold the entire assets to Ningshing Group via an auction for RMB98.6m ($13.9m).

Ningshing Group is multi-sector enterprise with businesses in commodity trading, e-commence, liquid cargo storage, equity investment and shipping. The group operates a shipbroking unit Shanghai Ningshing Marine.

According to the group, Ningshing will focus on the construction of small and medium ship types including bulk carrier, chemical tanker, containerships and fishing ships.

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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