A restructuring proposal for bankrupt Zhejiang Shipbuilding aims to put the facility in the hands of major Chinese real-estate developer Evergrande Real Estate Group, in a move that would represent a rare deletion of physical capacity from the Chinese shipbuilding market.
Zhejiang, the sister yard of Yangzhou Dayang in the former Sinopacific Shipbuilding Group, would be the third and last of the yards associated with shipbuilding entrepreneur Simon Liang to come under new ownership — but the first to disappear as a shipyard.
