Zhenghe Shipbuilding seeks new investors to rescue yard

Zhenghe Shipbuilding seeks new investors to rescue yard

Defunct Zhenghe Shipbuilding, a subsidiary of Qingdao Zhenghe Shipping, has made an announcement that it is looking for new investors to rescue the yard.

The yard applied with a court in Zhoushan for restructuring due to operating difficulties and suspended operations early September. It currently has total liabilities of RMB1.95bn ($307m).

The deadline for potential investors to join the restrucuturing is November 15.

Zhenghe Shipbuilding currently has 17 undelivered orders including four 82,000dwt bulkers, ten 67,000dwt bulkers, two 67,349dwt bulkers and one dredger.

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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