Chinese shipbuilder Yangzijiang Shipbuilding (Holdings) is halting production at one of its three shipyards just two years after it bought the facility.
The Singapore-listed company’s Jiangsu Yangzijiang Changbo Shipbuilding, previously known as Jiangsu Changbo, will cease operations at the end of the year.
Yangzijiang chairman Ren Yuan Lin says lacklustre demand for newbuildings is behind the decision to temporarily close the yard which is located in Jinjiang, Jiangsu province,
Ren says the company will now channel all its attention to Yangzi Xinfu Shipbuilding — a mega-yard in which it controls a 60% stake — and the Jiangsu New Yangzi Shipbuilding, which it established in 2006 and is only five kilometres from Changbo.
“Yangzijiang’s
