Yangzijiang Buys Majority Stake in Jiangsu Changbo

1 July 2010 (Last Updated July 1st, 2010 18:30)

Yangzijiang Shipbuilding has acquired a 51% stake in Jiangsu Changbo Shipyard (JCSC) for CNY51m ($7.5m). The Chinese shipbuilder will invest CNY105.1m ($15.4m) into JCSC to increase its capital reserves. The current outstanding newbuild order at JCSC is valued at $338m and compri

Yangzijiang Shipbuilding has acquired a 51% stake in Jiangsu Changbo Shipyard (JCSC) for CNY51m ($7.5m).

The Chinese shipbuilder will invest CNY105.1m ($15.4m) into JCSC to increase its capital reserves.

The current outstanding newbuild order at JCSC is valued at $338m and comprises 20 vessels, scheduled to be delivered between the second half of 2010 and 2012.