China’s government-backed Wuzhou Shipyard declared bankrupt – Seatrade Maritime News

A Chinese government-backed shipbuilder Zhoushan Wuzhou Shipyard has been declared bankrupt by a local court in Zhejiang province, reports said. Zhoushan Intermediate Peoples Court said it has accepted a filing by Zhejiang Shipping Group regarding the bankruptcy of Wuzhou Shipyard, one of its subsidiaries. The latest case makes Wuzhou Shipyard the first state-backed shipbuilder to…