Collapsed Nantong Mingde is reborn as Nantong Xiangyu

A collapsed Chinese shipyard in Nantong, Jiangsu province, is back in business under a new owner and with eight newbuildings in its orderbook.

 Nantong Xiangyu Shipbuilding & Offshore Engineering, previously known as Nantong Mingde Heavy Industries, will hold a party next month to mark its official opening.

Speaking to TradeWinds, shipyard commercial director Yang Junsheng said: “The [eight] newbuildings were contracted early this year.”