Nov 22, 2022 05:59 AM

Exclusive: STX Dalian Shipyard Resumes Operation After Hengli Takeover

A shipyard in Rongcheng, Shandong province.
A shipyard in Rongcheng, Shandong province.

The shipyard of STX Dalian Shipbuilding Co. Ltd., once the largest in Northern China, resumed operation after nearly a decade of idleness as a takeover by petrochemical giant Hengli Group Co. Ltd. brought to an end the shipbuilder’s long-running bankruptcy.

Several people close to Hengli told Caixin that the textiles-to-petrochemicals conglomerate placed orders for four bulk carriers, each with a capacity of 20,000 tons deadweight, at the Dalian shipyard. The vessels will join Hengli’s 12-ship fleet and operate between the port of Qinhuangdao, the world’s largest coal exporting terminal, and Dalian for coal transport, sources said.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
China Stories: The Rural Hardship Behind the Mine Murders That Shocked China