China Ship Repair Yard Winding Up

Press Release
Thursday, May 09, 2013

COSCO (Lianyungang) shareholders pass a resolution to dissolve the company.

The company is principally engaged in ship repair work, and the decision ot dissolve it was made in light of the landlord of the shipyard in which the operations of COSCO Lianyungang are carried out not agreeing to renew the lease, and losses that have been suffered by COSCO Lianyungang due to the slumping ship repair market.

The resolution to dissolve COSCO Lianyungang requires the internal approval of the respective shareholders of COSCO Lianyungang before being effective. An announcement will be made when the resolution becomes effective.

Based on information currently available, the dissolution of COSCO Lianyungang is expected to result in a one-off charge of approximately SGD 10 million to the company for the financial year ending 31 December 2013.
 

 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

Petrobras hands over Campos basin stake to PetroRio

Petrobras today signed with PetroRio S.A. (‘PetroRio’) the contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell.

Stolt-Nielsen's Results Show Bright Future

Stolt-Nielsen Limited today reported unaudited results for the second quarter ended May 31, 2015. Net profit attributable to shareholders in the second quarter was $42.

Ship Repair & Conversion

Bahri Goes to Hyundai Samho for Five More VLCCs

Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National

China, France Sign deal Shipping

Industrial cooperation is high on the agenda during Premier Li Keqiang's stay in France. China's deals with the world's third largest container shipping group - CMA CGM was highlight.

Hapag-Lloyd's New Noses Lower Emissions

Hamburg based shipping company Hapag-Lloyd plans for 24 of the largest containerships in its fleet to get new bulbous bows by 2016, with some of the vessels also

Finance

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

GasLog Partners To Buy Three Vessels

GasLog Partners LP and GasLog Ltd. announced today the closing of the Partnership’s acquisition from GasLog of 100% of the ownership interests in the entities

San Leon Signs Moroccan Rig Deal

San Leon Energy signed a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco. The rig contract has been

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.5737 sec (2 req/sec)