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Chinese shipbuilder could face bankruptcy

One of China's biggest yards, Sainty Marine, has initiated the process of a restructuring, and if this fails the yard warns investors that a possible de-listing from Shenzhen Stock Exchange could be the next step, reports the Wall Street Journal.
Photo: Erria
Photo: Erria
BY KATRINE GRØNVALD RAUN

One of China's large-scale yards is in such big trouble now that the yard is warning investors about the risk of being de-listed from the Shenzhen Stock Exchange, writes the Wall Street Journal. This is taking place after a local Chinese court ruled that the company's largest creditors have a deadline of March 25th to compile a rescue plan for the yard, which is owned by the provincial government of Jiangsu.

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