Zhenjiang Shipyard takes over bankrupt Jiangsu Shenghua Shipbuilding

Zhenjiang Shipyard takes over bankrupt Jiangsu Shenghua Shipbuilding

China’s Zhenjiang Shipyard has entered into an agreement with Zhenjiang High-tech Zone Development Group to acquire the assets of bankrupt Jiangsu Shenghua Shipbuilding.

Shenghua entered into a bankruptcy restructuring process in 2016 and the assets of the shipyard were sold to Zhenjiang High-tech Zone Development Group in a court- led auction last year.

Zhenjiang Shipyard plans to use the Shenghua yard to build specialised vessels.

Shenghua Shipbuilding was a joint venture established by Nanjing Shenghua Shipbuilding and Singapore’s Sentek International in 2007. The shipyard mainly built smaller size bulkers, tankers and multipurpose vessels, but suspended operations in 2012.

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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