August 9th, 2017 Jason Jiang Greater China, Shipyards 0 comments <\/p>\n
Sinopacific Offshore & Engineering resumed full operations yesterday following the approval of the shipyards restructuring plan last week. <\/p>\n
The shipyard went into a bankruptcy restructuring process in August 2016 and suspended operations after delivering a second 38,000 cu m ethylene gas carrier to Ocean Yield in June. <\/p>\n
In July, CIMC Enric entered into a new restructuring investment agreement with the receiver of Sinopacific Offshore to take over the yard for RMB799.8m ($117.58m). <\/p>\n
An official from SUMEC Group, a major creditor of Sinopacific Offshore, told Splash that the shipyards primary goal now is to complete existing orders and market the yard for new orders. <\/p>\n
Sinopacific Offshore currently has two 22,000 cu m LEG carriers under construction for Odfjell. <\/p>\n
Jason Jiang <\/p>\n
Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jasons access to the biggest shippers with business in China has proved an invaluable source of exclusives. <\/p>\n
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Sinopacific Offshore resumes operations - Splash 247<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" August 9th, 2017 Jason Jiang Greater China, Shipyards 0 comments Sinopacific Offshore & Engineering resumed full operations yesterday following the approval of the shipyards restructuring plan last week. Continue reading