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Taizhou Kouan emerges from bankruptcy

Chinese private shipyard Taizhou Kouan Shipbuilding has emerged from bankruptcy after new investors took control of the yard.

The yard entered into a court-led restructuring after it was declared bankrupt by a local court in August due to a financial crisis.

Two local companies, Taizhou Changqin Ship Engineering and Taizhou Changyue Enterprise Management, have taken over the yard. The restructuring plan has been approved by the majority of creditors and the court, and is now in the execution phase.

VesselsValue data shows Taizhou Kouan currently has an orderbook of 12 vessels, made up of eight bulkers and four tankers.

Taizhou Kouan Shipbuilding was formerly a state-owned yard named Domestic Trade Ministry Kouan Shipbuilding Industry and was privatised in 2007.

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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