Greater ChinaShipyards

Zhenghe Shipbuilding suspends operations

Zhoushan-based Zhejiang Zhenghe Shipbuiding, a subsidiary of Qingdao Zhenghe Shipping, has sent a notice to its employees that the shipyard has suspended operations and asking them to wait for further notice regarding unpaid salaries.

Over one thousand of employees in the shipyard haven’t been paid for several months. Some of them protested at a nearby highway toll station yesterday, in an attempt to get attention from the local government.

Zhenghe Shipbuilding has been suffering from financial issues since 2014, with its parent Zhenghe Shipping previously sued by employees for salary arrears. In May the shipyard applied with a court in Zhoushan for restructuring due to operating difficulties.

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 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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