Dalian Shipbuilding Industry Offshore files for restructuring

Dalian Shipbuilding Industry Offshore (DSIC Offshore), a subsidiary of Dalian Shipbuilding Industry Co., Ltd (DSIC), had been requested by Dalian Municipal Intermediate People's Court to restructure due to debt issues with Dalian Shenghua Ship Engineering Company.

According to the investigation of Dalian Municipal Intermediate People's Court, DSIC Offshore owned a debt of RMB7.95m ($1.18m) from Dalian Shenghua. The company had no ability to pay back the debt due to a negative net asset of RMB1.921bn.

Beijing Jingdu (Dalian) Law Firm had been appointed as the restructuing administrator for the case.

DSIC Offshore is a contractor company specialized in offshore engineering, construction, repair and conversion. Its main business covers jack-up/semi-sub drilling/production platform, drilling ship, FPSO, wind turbine installation vessel and other fixed and floating drilling or oil and gas production facilities.

Posted 30 January 2019

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Katherine Si

China Correspondent

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