China Ocean Industry Group says that subsidiary Nantong Huakai Heavy Industry, has received a judgment from the People’s Court of Rugao, Nantong, Jiangsu province related to the bankruptcy.
Chinese state-owned shipbuilding giant China Shipbuilding Industry Corporation (CSIC) has visited the two shipyards that are in near-bankruptcy under Uljanik in Croatia and is considering to provide financial support.
Shanghai Bestway Marine & Energy Technology announced that the bank accounts of its subsidiary Jiangsu Dajin Heavy Industry Co., Ltd have been frozen by one of its banks due to debt issues.
Chinese dry bulk transportation companies Sinotrans & CSC Phoenix have announced that parent company Tianjin Shunhang Shipping has applied for liquidation due to debt issues.
Chinese-listed ship technology company Bestway Marine & Energy Technology’s chairman faces prosecution for debt default that may lead to the bankruptcy of the company.
The recent insolvency of the Philippine yard of South Korea’s Hanjin Heavy Industries & Construction (HHIC) has stirred interests of investment from Chinese companies, reports said.
New York-listed containership owner Seaspan Corp has emerged as an unlikely saviour for struggling Singapore offshore construction vessel company Swiber Holdings.