Jiangzhou Union Shipbuilding Gets New Manager

China Ocean Industry Group has entered into a cooperation deal with the Ruichang Government and a Singapore-listed shipbuilder for the management of Jiangxi Jiangzhou Union Shipbuilding.

Under the cooperation agreement, signed between the parties on March 8, the Singapore-listed shipbuilder will be responsible for managing the shipyard, which is a wholly-owned subsidiary of Jiangzhou Shipbuilding.

The shipbuilder, understood to be Yangzijiang Shipbuilding, would also make use of technologies, resources, funding and market to stabilise the backbone shipbuilding team of Jiangzhou Shipbuilding to ensure normal employment of workers and raising the income of workers, and restore the normal production and operation level of Jiangzhou Shipbuilding aiming for turnaround to profit.

The agreement would see Ruichang Government designate the limestone mining area in Huangjinxiang, Ruichang City, with limestone deposit of around 500 million tonnes, and the parties shall set up a joint-venture company to participate in the
open tender for the limestone mine.

Additionally, the government would transform the outfitting pier of the company into a sandstone pier, which will be used for transportation of sandstone manufactured and produced by the JV.

Jiangzhou Shipbuilding has been undergoing certain difficulties in business in recent years and has been seeking for co-operation opportunities to integrate the Jiangzhou Shipbuilding business. The cooperation and the transactions devised under the agreement would offer an opportunity for Jiangzhou Shipbuilding to revitalize its business.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >