Greater ChinaShipyards

Titan Quanzhou Shipyard enters liquidation process

Titan Petrochemical has announced that a court in Fujian has accepted an application by Hui’an County Huidong Water Supply Company to wind up its subsidiary, Titan Quanzhou Shipyard.

The court has ordered to set up a liquidation team in relation to the winding up of the shipyard.

Titan said it is seeking professional advice on the matter and is in the course of assessing the impact of the decision.

Financially troubled Titan Petrochemical has been disposing of its assets to improve its financial status. The company sold a total of four subsidiaries this month including Zhoushan Yatai Shipbuilding.

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