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Fujian Crown Ocean Shipbuilding looks for new investors

China’s Fujian Crown Ocean Shipbuilding is seeking investors to restructure the shipyard following the completion of an initial review of its assets and debts.

The shipyard’s administrator is looking to recruit one or more investors to restructure the company.

Fujian Crown Ocean Shipbuilding, established in 2006, was the largest private shipbuilding company in Fujian province. Fujian Lianjiang People’s Court announced its bankruptcy in 2019 due to mounting debts. 

Fujian Crown Ocean Shipping, parent of the shipyard, also went bankrupt in 2019.

TAGS: Asia China