Taizhou Kouan Shipbuilding seeks restructuring investors
A court filing says the builder has run out of cash and is unable to complete and deliver newbuilding projects in a timely manner. Buyers are also said to be enforcing the refund guarantees on vessels under construction
China’s shipbuilding association warned that the backlog of most domestic yards will not last beyond 2021, while the pandemic-led restrictions on entry of foreign owners, crew and service engineers had disrupted many ship deliveries
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