Chinese domestic container carrier Nan Tsing Container Lines has reportedly ceased operations of its entire shipping fleet on Sunday as it struggled with mounting debts.

Singapore’s BH Global has announced that its subsidiary Oil & Gas Solutions (OGS) has initiated creditors’ voluntary liquidation proceedings last Friday, and was hit by a lawsuit from its creditors.

STX Dalian Shipbuilding and its six subsidiaries will have their assets sold at an auction on 12 May after the companies are liquidated, China’s Dalian Intermediate People’s Court announced.

STX Dalian Shipbuilding and its six subsidiaries are to be liquidated after a Chinese court terminated their restructuring process, reports said.

Dynamic Oil Trading, the OW Bunker unit at the centre of a $125m fraud scandal, has been placed into bankruptcy.

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