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Yangzijiang Shipbuilding acquires unfinished bulker from Jiangsu Shenghua

China’s Yangzijiang Shipbuilding has acquired unfinished 79,600 dwt bulk carrier JSH413 at bankrupt Jiangsu Shenghua Shipbuilding yesterday via an online auction.

Yangzijiang Shipbuilding won the auction by offering the highest bid of RMB54.35m ($8.55m) for the vessel.

According to the auction files, the ship has been abandoned for years and some parts of the ship might not meet IMO requirements.

Jiangsu Shenghua Shipbuilding was a joint venture established by Najing Shenghua Shipbuilding and Singapore’s Sentek International. The shipyard went into a bankruptcy restructuring process in 2016.

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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